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USD/CHF Consolidating Under Trendline and October High

USD/CHF Consolidating Under Trendline and October High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-chf_body_usdchf.png, USD/CHF Consolidating Under Trendline and October High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-The USDCHF has rallied into the line that extends off of the Jul and Sep highs. As mentioned in the EURUSD section, the USDCHF has failed to confirm the EURUSD drop below its Oct low.

-As long as the divergence is in place, it’s imperative that one respect the risk of a deeper USD pullback. If that happens, then watch for support down to .9020/45.

Trading Strategy: Flat

LEVELS: .9023 .9044 .9093 | .9179 .9232 .9278

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

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