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USDCHF In Limbo Between 9330 and 9420

USDCHF In Limbo Between 9330 and 9420

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF In Limbo Between 9330 and 9420

Prepared by Jamie Saettele, CMT

The narrow range of the last 2 days following the strong reaction at 9438 is suggestive of consolidation before a drop towards the 61.8% retracement of the advance from 9238 and 9/21 low at 9285-9314. 9270 and the low at 9238 are also in play of course. I’ll be looking for signs of failure near the bottom of the range, especially if on news. Exceeding 9438 would shift focus to 9500/20.

LEVELS: 9284 9314 9347 9392 9438 9483

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

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