USDCHF Bull Market Underpinnings
Prepared by Jamie Saettele, CMT
The USDCHF decline from the 3/15 high (9334) has stalled at the 20 day average / 2/9 low / 61.8% retracement of the rally from 8931 (9085). The inability of bears to penetrate this level combined with the fact that the month to date low occurred on the first day of the month is bullish. Near term focus remains on 9200.
Bottom Line (next 5 days) – sideways / higher
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.