USD/CHF Slams into .9400
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: The USDCHF rally fell apart (I feel like I wrote this in May) and price has already dropped into .9400, a well-defined area from the 6/3 low, 6/10 high, 6/25 high, and 6/27 low. As is the case with all USD groups, it’s best to allow things to settle down but levels that could produce the next turn are .9367 (61.8%) and .9291 (large volume area).
FOREXTrading Strategy: Flat
LEVELS: .9290 .9367 .9400 .9532 .9595 .9625
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.