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USDCHF Former Congestion Holds as Support

USDCHF Former Congestion Holds as Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Former Congestion Holds as Support

Prepared by Jamie Saettele, CMT

As the opposite of the EURUSD, the USDCHF may have put in a low today. The decline from 9771 reached 9576 today, which is in the middle of congestion from late May. Short term support is 9625. I’m looking higher as long as price is above 9576 towards 9771 and the high. Failure to hold 9576 would put 9500 back in focus.

LEVELS: 9529 9576 9625 9710 9771 9800

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

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