USD/CHF Near Term Pivot Raised to .9299
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“If a major low is in place in the rate then a low probably forms between .8800 and .8860. A low formed at .8955 on 7/1 and USDCHF put in a strong July.”
-USDCHF is trading around the 50% retracement of the decline from the 2012 high. The 61.8% is at .9485. This zone likely provides resistance for a drop back to .9150-.9250.
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