USD/CHF Rebounds; Needs to Take .9020 in Order to Suggest Larger Bull
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 at .8902.
LEVELS: .8859 .8902 .8945 | .9006 .9020 .9063
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