USDCHF 3/29 High Acts as Support
Prepared by Jamie Saettele, CMT
The USDCHF has tested and so far held the 3/29 high (as support now of course). Price is also sitting at the 20 day average. As long as the April low (9001) holds, a break above 9222 as well as the resistance line that extends off of the January and March highs is expected. The March high is of interest at 9335 as is the 100% extension of the 8931-9334 rally, at 9405 (intersects channel resistance on April 23rd).
Bottom Line (next 5 days) – bottoming/higher?
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.