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USD/CHF Feels Like an Emotional Top

USD/CHF Feels Like an Emotional Top

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Feels Like an Emotional Top

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-After spiking above trendline resistance, USDCHF put in a Monday reversal in an environment that is best described as emotional. Moreover, this area is defended by the 2008 low at .9647.

-.9430/60 is estimated support now. The manner in which price weakens should offer insight regarding the next move.

--Tradingideas are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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