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USD/CHF Slams into .9400

USD/CHF Slams into .9400

2013-07-10 01:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_usd-chf_body_usdchf.png, 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

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