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FOREX Technical Analysis: USD/CHF Breaks Significant Trendline Support

FOREX Technical Analysis: USD/CHF Breaks Significant Trendline Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

FOREX_Technical_Analysis_USDCHF_Breaks_Significant_Trendline_Support_body_usdchf.png, FOREX Technical Analysis: USD/CHF Breaks Significant Trendline Support

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: I wrote yesterday “is the USDCHF diverging from the EURUSD? It certainly did today as the CHF was hammered across the board. Still, the larger trend is considered sideways between 9303 and 9077. A break of that zone will determine direction.” The USDCHF has broken through 9303 and focus is now on 9382 although I’d not be surprised to the broken trendline tested as support near 9225.

FOREXTrading Strategy: Look to buy weakness below near 9225…EURCHF support begins at 12316.

LEVELS: 9140 9178 9262 9382 9437 9512

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

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