USD/CHF Traders Should Watch .8890-.8920 for Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-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