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USD/CHF Presses Line from 2008 and 2010 Highs

USD/CHF Presses Line from 2008 and 2010 Highs

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

USD/CHF Presses Line from 2008 and 2010 Highs

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.”

-USDCHF exceeded its .9750 objective and has continued into a line that extends off of the 2008 and 2010 highs. The line that extends off of the 2005 and 2008 highs is at about 1.0270 in January. Bottom line; here to 1.0270 is resistance for a pullback.

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

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