News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Breaking news

UK Prime Minister Boris Johnson Resigns

FOREX Technical Analysis: USD/CHF Responds to Fibonacci Retracement above 9500

FOREX Technical Analysis: USD/CHF Responds to Fibonacci Retracement above 9500

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDCHF_Responds_to_Fibonacci_Retracement_above_9500_body_usdchf.png, FOREX Technical Analysis: USD/CHF Responds to Fibonacci Retracement above 9500

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: Opening range implications are bullish USD/CHF with the high occurring on day 1 of the month. Monday’s inside day was broken to the upside but the advance was rejected by the 38.2% retracement and the close near the day’s low reveals a lack of buying pressure at the current level.

FOREXTrading Strategy: The inside day break is no longer valid since price also took out Monday’s low (therefore making an outside day Tuesday). The rejection at the 38.2% retracement suggests that we respect potential for a deeper setback into former resistance levels at 9437 and 9386. The CAD/CHF is also pair to consider.

LEVELS: 9386 9404 9437 9512 9538 9593

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

DISCLOSURES