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USD/CHF Median Line is Key to Uptrend

USD/CHF Median Line is Key to Uptrend

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Median Line is Key to Uptrend

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.

-USDCHF has traded into median line support and former congestion (.9300-.9430). Start looking higher again. .9580 is resistance within the range and .9400/30 is support. A target level in the event of a new high is .9750.

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

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