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USDCHF Slices Through Trendline Resistance

USDCHF Slices Through Trendline Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Slices Through Trendline Resistance

Prepared by Jamie Saettele, CMT

We can probably take 9367 out of the equation. I say ‘probably’ because the advance from yesterday’s low isn’t yet in 5 waves. If an impulse unfolds, we can be confident that a more important low is in place. Near term, there is likely decent resistance at the current level (20 day average, midpoint of range) thus respect dip potential (again…probably wave iv within the 5 wave decline from the 6/20 low).

LEVELS: 9455 9500 9540 9595 9650 9695

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