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FOREX Technical Analysis: USD/CHF Levels of Interest are 9408 and 9294

FOREX Technical Analysis: USD/CHF Levels of Interest are 9408 and 9294

2012-12-12 02:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

FOREX_Technical_Analysis_USDCHF_Levels_of_Interest_are_9408_and_9294_body_usdchf.png, FOREX Technical Analysis: USD/CHF Levels of Interest are 9408 and 9294

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).” Weakness from Friday’s high probably composes a b wave. Estimated support from Fibonacci comes in at 9294.

FOREXTrading Strategy: One may wish to turn bullish again on weakness below 9300, considering the SNB rate decision on Thursday.

LEVELS: 9213 9240 9294 9382 9408 9441

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