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USD/CHF Rally Failing at Resistance

USD/CHF Rally Failing at Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“.8279 sticks out as a reaction level. This is the 61.8% retracement of the 2011-2015 rally and the 127.2% retracement of the 2014-2015 rally. Retracements of last week’s move would be of interest as resistance at .9132 (38.2%) and .9340 (50%). The latter level is in line with the October 2014 low at .9359 and median line from the structure that capture the low after the SNB shocker.”

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

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