USDCHF Bulls Favored above August Low
Prepared by Jamie Saettele, CMT
Continue to look higher in the USDCHF as long as price is above 9655 (although Monday’s low at 9705 may have completed 3 waves down from 9809). Even if a triangle or flat is unfolding as wave 4, most of the trading from here would still take place at higher levels. 9900 could produce a reaction if reached although a push through 9971 is expected eventually in wave 5. Daily RSI holding at the previous swing low is encouraging for bulls.
LEVELS: 9657 9685 9705 9760 9809 9858