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USD/CHF December High is Possible Resistance at .9110

USD/CHF December High is Possible Resistance at .9110

2014-01-07 22:35:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_usd-chf_body_Picture_4.png, USD/CHF December High is Possible Resistance at .9110

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-On 12/27, USDCHF spiked to its lowest level since Nov 2011. The advance from the 12/27 low is impulsive (5 waves). As such, it’s possible that an important low is in place.

-A corrective decline from the 2012 high may be complete.

Trading Bias: Flat

LEVELS: .8914 .9000 .9036 | .9110 .9146 .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.

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