USDCHF Former Trendline Resistance is Now Support
Prepared by Jamie Saettele, CMT
Immediate focus for the USDCHF is 9080, which is defined by the 3/8 low and former support line. Resistance for Tuesday is 9150 but the specter of 5 waves down from 9335 demands that we respect the potential for a deeper corrective advance into 9180/9200 before resumption of the bear trend.
Bottom Line (next 5 days) – sideways / lower?
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