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USDCHF at Strong Resistance

USDCHF at Strong Resistance

2012-09-26 22:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF at Strong Resistance

Prepared by Jamie Saettele, CMT

The USDCHF has reached strong resistance. 9410/20 is defined by pivots in June that the market responded to on 9/13 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. Additional strength would encounter 9480 (9/10 high). The key trend defining level on the daily is 9608.

LEVELS: 9284 9328 9368 9420 9480 9500

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