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USDCHF is Constructive above Monday Low

USDCHF is Constructive above Monday Low

Jamie Saettele, CMT, Sr. Technical Strategist

60 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF is Constructive above Monday Low

Prepared by Jamie Saettele, CMT

“Focus remains higher towards 9660 and 9713 this week and a break above 9771 is expected in July. What is up in the air is whether or not the advance continues from above 9550 (Monday low). In other words, either a small 2nd wave is in place at Friday’s low or the USDCHF will dip below that level before accelerating higher towards mentioned levels.” The USDCHF ended Tuesday close to unchanged after rallying to 9652. 9570/80 is support. The market may be biding its time until July but the bias remains bullish and weakness into support, especially on news, should be bought.

LEVELS: 9500 9540 9585 9660 9713 9770

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

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