USD/CHF Decline Consists of 2 Equal Legs
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.
-Exceeding .9110 would suggest that a larger advance is underway. Until then, the path is sideways to lower. .8960s is of interest as possible support if reached although it is worth noting that the decline from the Nov high does now consist of 2 equal waves (exactly). Equal legs is common to corrective market movements.
Trading Strategy: Flat
LEVELS: .8922 .8966 .9030 | .9078 .9130 .9191
--- 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.