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USDCHF 9420/80 Now in Play

USDCHF 9420/80 Now in Play

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF 9420/80 Now in Play

Prepared by Jamie Saettele, CMT

Although yet to do so, exceeding the Monday high would shift focus to 9420 and 9480. This zone is defined by pivots in June that the market responded to before breaking lower this month. 9411 is also the 23.6% retracement of the rally from the June low, former 4th wave and 100% extension of the rally from the low. Look higher as long as price is above 9284. 9345/60 is support.

LEVELS: 9284 9320 9345 9420 9480 9500

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