USD/CHF Rolls Over; Look Towards .8945
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“The near term path is higher above .8896 but USDCHF faces a load of levels up to .9020 (200 DMA is now, and the February 2013 low is at .9021). Below .8896 would likely give way to .8860.”
-A high was registered just above .9021 after ECB and the reversal took out the prior 8 days’ highs and lows. Failure to follow through (lower) on the reversal leaves .8907 as an important pivot. .8945 is possible support above that level.
LEVELS: .8863 .8915 .8945 | .8986 .9005 .9036
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