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USD/CHF Pullback Finds Support at 20 DMA

USD/CHF Pullback Finds Support at 20 DMA

Jamie Saettele, CMT, Sr. Technical Strategist


USD/CHF Pullback Finds Support at 20 DMA

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 still estimated support but the decline already consists of 3 waves and channels in a corrective manner. Such evidence is bullish.

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

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