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FOREX Technical Analysis: USD/CHF 9330s of Interest as Support

FOREX Technical Analysis: USD/CHF 9330s of Interest as Support

2012-11-22 00:55:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

FOREX_Technical_Analysis_USDCHF_9330s_of_Interest_as_Support_body_usdchf.png, FOREX Technical Analysis: USD/CHF 9330s of Interest as Support

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF has cracked near term trendline support and the next level of potential support is the 61.8% retracement of the rally from 9213 at 9327 and 100% extension of the decline from 9512 at 9264. This latter level is below the monthly low. Like other USD crosses, expectations are for USD weakness to exhaust early next week.

FOREXTrading Strategy: Look lower over the next few days into 9327 and maybe the 100% extension level at 9264 before potential for a turn.

LEVELS: 9328 9363 9380 9392 9423 9458

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

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