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USD/CHF Slides to Mid-Lows and Trendline Support

USD/CHF Slides to Mid-Lows and Trendline Support

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Slides to Mid-Lows and Trendline Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The USDCHF was unable to hold the 7/31 low as the choppy drop continues. Price is at the trendline that extends off of the October 2011, February 2013, and June 2013 lows. If the line fails to hold, then the June low at .9130 is at risk (year open is .9138).

FOREXTrading Strategy: Stopped out of long at .9220.

LEVELS: .9073 .9129 .9179 .9269 .9330 .9365

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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