USDCHF 9070 Floor Fails
Prepared by Jamie Saettele, CMT
The floor that was in place from the 20 day average / 2/9 low / 61.8% retracement of the rally from 8931 (9085) gave way Monday, which puts focus back on the February low at 8930. A drop below there would probably compose a C wave that extends towards 8567-8670 (10/24/2011 low and 100% extension of decline from January high).
Bottom Line (next 5 days) – sideways/lower?
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