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Dollar Franc Objective Remains 8820

Dollar Franc Objective Remains 8820

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, Dollar Franc Objective Remains 8820

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. Exceeding 9011 would at least delay the bearish bias and shift focus to 9090.

Bottom Line – Lower

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.