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USD/CHF .8935 is Possible Resistance on a Pop

USD/CHF .8935 is Possible Resistance on a Pop

2013-12-17 21:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF .8935 is Possible Resistance on a Pop

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Last week, USDCHF filled a previously uncovered close from Nov 4th, 2011. The drop to YTD lows shifts focus to the Oct 2011 low at .8570, which is also a head and shoulders objective.

-In general, .8930/60 is estimated resistance. The market would need to clear .9075 to suggest a change in the larger trend.

Trading Strategy: Flat

LEVELS: .8700 .8761 .8800 | .8910 .8963 .9012

--- 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.

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