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USDCHF Closing in on 2011 High

USDCHF Closing in on 2011 High

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Closing in on 2011 High

Prepared by Jamie Saettele, CMT

The USDCHF has taken out the January high with conviction and is approaching the 2011 high (also in January) at 9784. With recent moves and the increase in volatility, the December 2010 high at 10065 may be here quicker than most expect. Surprise, traders should look to align with the breakout (long) early in the month. Support comes in at 9610/65.

LEVELS: 9530 9610 9665 9780 9915 10065

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