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USDCHF Rally Fails Before Range High

USDCHF Rally Fails Before Range High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Rally Fails Before Range High

Prepared by Jamie Saettele, CMT

USDCHF failure in front of the October 1 high at 9438 and trendline resistance keeps the market in a range. 9335/57 is potential near term support although a continuation of the range that began in mid-September would result in a return to 9238. Exceeding 9438 wouldn’t necessarily change the long term trend but would shift focus to 9500/20.

LEVELS: 9275 9322 9357 9438 9475 9501

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