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USDCHF Trades above January High

USDCHF Trades above January High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Trades above January High

Prepared by Jamie Saettele, CMT

The USDCHF has traded to the January high, thus triggering its intra-year reversal. As mentioned last update; “near term structure (3 wave drop for example from the top) is constructive against 9367 towards the January high at 9594.” This remains the case but the January high may be a good place for price to consolidate before resuming the larger bull trend. Pullbacks would encounter support at 9499 and 9438 (watch the topside of the former base channel too).

LEVELS: 9785 9595 9500 9440 9367 9306 9270

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