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Dollar Resistance against Franc at 9030

Dollar Resistance against Franc at 9030

2012-02-27 21:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-chf_body_usdchf.png, Dollar Resistance against Franc at 9030

Prepared by Jamie Saettele, CMT

USDCHF focus remains towards the 100% extension of the 9595-9114 decline at 8820 (the rally to 9300 is viewed as a flat correction…the same as the EURUSD decline to 12974). The 200 day average at 8765 is worth a mention as potentially strong support as well. Expect resistance at 9030 and favor the downside against 9115.

Bottom Line – Lower

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