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USDCHF Responds at Strong Resistance

USDCHF Responds at Strong Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Responds at Strong Resistance

Prepared by Jamie Saettele, CMT

The USDCHF reversed from strong resistance. To review, “9410/20 is defined by pivots in June that the market responded to on 9/13, the 23.6% retracement of the rally from the June low, former 4th wave and 100% extension of the rally from the low.” Expect interim support from 9306/25 but focus for now is on the 9238 low and the May gap at 9184.

LEVELS: 9284 9306 9350 9420 9480 9500

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

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