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USDCHF Bulls Favored above August Low

USDCHF Bulls Favored above August Low

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, 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

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

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