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USD/CHF Sticks out as Resistance

USD/CHF Sticks out as Resistance

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“USDCHF has reversed from 9 year trendline resistance. Focus is on the median line (about .9300) that extends off of the 2012 high. This line crosses through highs in 2013 and the October 2014 low. The 52 week MA is near this line as well.”

-USDCHF has broken below the mentioned median line and the rate is considered vulnerable while below the line. However, a push above could still face resistance near .9410.

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