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USD/CHF Pressing the Issue on Yearly Range

USD/CHF Pressing the Issue on Yearly Range

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Pressing the Issue on Yearly Range

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-USDCHF broke under the June low and is nearing the year to date low of .9024. The last possible support before the low is .9085 (close of 2/1 low).

-Also of interest is the line that extends off of the February 2012 and January 2013 lows.

-.9180 is potential resistance on a bounce.

Trading Strategy: In general, EUR and CHF are acting well. Look for long opportunities on EUR and CHF against commodity FX, in particular CAD, which show evidence of reversing.

LEVELS: .8933 .9024 .9085 | .9182 .9233 .9278

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

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