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FOREX Technical Analysis: USD/CHF Consolidates Following Trendline Break

FOREX Technical Analysis: USD/CHF Consolidates Following Trendline Break

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, FOREX Technical Analysis: USD/CHF Consolidates Following Trendline Break

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDCHF is consolidating following yesterday’s break through 9303 and trendline resistance. There is no change to the outlook. “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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