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USD/CHF Traders Should Watch .8890-.8920 for Support

USD/CHF Traders Should Watch .8890-.8920 for Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Traders Should Watch .8890-.8920 for Support

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 shifted focus to the Oct 2011 low at .8570 but this week’s action may require an audible. At the moment, price has formed an outside week reversal.

Trading Strategy: Flat

LEVELS: .8830 .8877 .8902 | .8963 .9012 .9049

--- 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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