Forex Technical Analysis: USDCHF Resistance at 9380
Chart Prepared by Jamie Saettele, CMT
Forex Observations: “The USDCHF registered new lows last Wednesday daily RSI never pierced 30. This is a sign of potential exhaustion. The EURUSD also failed to make a new high Wednesday (intermarket divergence). I’m not trying to pick a bottom here but I am pointing out new shorts are high risk.”
Forex Trading Strategy Implications: Allowing for corrective weakness, market risk is higher towards 9380
LEVELS: 9184 9221 9289 9380 9437 9483
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