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USDCHF at Channel Resistance ahead of March High

USDCHF at Channel Resistance ahead of March High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF at Channel Resistance ahead of March High

Prepared by Jamie Saettele, CMT

The USDCHF is nearing its March high (9334) but has thus far been unable to penetrate channel resistance. Like the EURUSD, a gap remains in place from Sunday’s open (at 9184) and would be support if reached. 9230 is support prior to that level. Medium term players should trade from the long side below 9200 with a stop below the Maylow.

LEVELS: 9405 9334 9230 9184 9140 9040

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.