USD/CHF Breakout is Valid above Thursday Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDCHF took out the trendine that extends off of the November and January highs with authority. Technically, the breakout is valid as long as price is above Thursday’s low but the confluence of Fibonacci resistance and the January high is unlikely to give way easily. Don’t be surprised to see sideways trading similar to Tuesday and Wednesday for at least the next few days.
FOREXTrading Strategy: Flat
LEVELS: 9257 9280 9335 9388 9458 9512