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USDCHF 2011 High of Interest at 9785

USDCHF 2011 High of Interest at 9785

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF 2011 High of Interest at 9785

Prepared by Jamie Saettele, CMT

The USDCHF has traded to the January high, thus triggering its intra-year reversal. Bulls have been unable, at least to this point, to break the topside with conviction. As such, respect potential for consolidation before the larger bull trend resumes. It is best to go with the trend but you don’t want to get in at a horrible price. With this in mind, initial support is 9500.

LEVELS: 9325 9370 9440 9500 9560 9785

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