USD/CHF Trades into 61.8% Level and October Low
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The USDCHF has reached the 61.8% retracement of the rally from .9021. The level also marks the October 2012 low. This is a good place for a bounce but the larger trend is now considered down against Monday’s high of .9326. Near term resistance is estimated at .9250/80.
FOREXTrading Strategy: Stop on shorts is moved down to .9330.
LEVELS: .9021 .9101 .9184 .9266 .9333 .9367