USD/CHF above .9190 Would Bolster Bullish Prospects
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDCHF continues to bounce along the top side of the line that extends off of the Jul and Sep highs.
-Price traded below its 11/1 low late Friday and on Sunday evening. The EURUSD failed to exceed its 11/1 high. The divergence is subtle but it is there.
-Exceeding .9190 would suggest that a larger advance is underway.
Trading Strategy: Like the EURUSD, long USD here could work but the trade seems forced. Not yet (for me at least).
LEVELS: .9000 .9044 .9083 | .9149 .9215 .9250
--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.