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USDCHF Working Towards Channel Lines

USDCHF Working Towards Channel Lines

2012-06-06 21:56:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Working Towards Channel Lines

Prepared by Jamie Saettele, CMT

As the opposite of the EURUSD, the USDCHF analysis is the exact opposite. That is, the sharp decline has reached former congestion which could provoke a bounce. Resistance is now 9575-9600. An important level to keep an eye on towards the end of this week and early next week is 9500 (5/18 high).

LEVELS: 9440 9500 9530 9575 9600 9650

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

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