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FOREX Technical Analysis: USD/CHF Faces Resistance from 9340

FOREX Technical Analysis: USD/CHF Faces Resistance from 9340

2012-12-07 02:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

FOREX_Technical_Analysis_USDCHF_Faces_Resistance_from_9340_body_usdchf.png, FOREX Technical Analysis: USD/CHF Faces Resistance from 9340

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF rally probably commences a corrective advance towards 9400. The implications from price action since the September low are the exact same as that of the EURUSD (flipped of course). Look higher, probably throughout December, towards at least 9408.

FOREXTrading Strategy: Bullish on dips, 9305 is support, against 9240.

LEVELS: 9240 9281 9305 9340 9408 9441

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