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FOREX Technical Analysis: USD/CHF Estimated Resistance at 9245

FOREX Technical Analysis: USD/CHF Estimated Resistance at 9245

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, FOREX Technical Analysis: USD/CHF Estimated Resistance at 9245

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF bearish break in early December remains valid as long as price is below 9382. In fact, the former support line extended off of the February and October lows served as resistance last week. Structurally, the advance from December’s low may compose a flat.

FOREXTrading Strategy: Shorts are warranted on strength into 9245

LEVELS: 9114 9163 9199 9245 9303 9346

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

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