USD/CHF Still Faces .9100 Resistance before Range Highs
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-On 12/27, USDCHF spiked to its lowest level since November 2011. The advance from the 12/27 low is impulsive (5 waves). As such, it’s possible that an important low is in place.
-The rejection at former lows (June and August lows) has given way to a larger dip. The rate has held the top side of the former resistance line so a secondary low may be in place.
LEVELS: .8902 .8939 .9000 | .9071 .9099 .9156
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.