USD/CHF Support Seen Near .9560/80
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“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.”
-“We could see .9750 after a dip into .9525/60 but 5 waves up from the May low indicate substantial reversal risk.” Friday’s high was .9740. 5 waves up warns of a countertrend move.
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