USDCHF Break Would Test 9367
Prepared by Jamie Saettele, CMT
“The USDCHF is has reached the -2nd standard deviation Bollinger band (20 day), which has pinpointed lows since the 2012 top was set in February. Unlike the EURUSD however, the USDCHF has yet to reach its base channel (as support). Weakness below Monday’s high would shift focus to the 100% extension and 5/21 low at 9350/67.” Like the EURUSD, I favor a range strategy as long as price is above Monday’s low. One would expect the Monday high and 20 day average to provide resistance if reached.
LEVELS: 9305 9365 9420 9500 9563 9595
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.