USD/CHF Dripping Towards Trendline Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDCHF spiked into .9550 on Friday but is back below the 50% retracement of the decline from the 2012 high and November high (.9512). The return to the range raises the possibility that Friday’s post NFP spike was terminal, at least for several weeks. In fact, an impulsive decline from the post NFP spike appears to be unfolding.
FOREXTrading Strategy: Need below .9392 in order to suggest a deeper drop into .9223/86?
LEVELS: .9257 .9338 .9392 .9513 .9608 .9656
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