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USDCHF Daily Key Reversal

USDCHF Daily Key Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Daily Key Reversal

Prepared by Jamie Saettele, CMT

Like the EURUSD, the USDCHF carved out a key reversal. Key reversals have nailed USDCHF tops in recent months, forming on 10/6, 12/15, 1/9, and 3/15. Still, a bullish bias is warranted as long as the April low (9001) holds. 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) – sideways/higher?

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