USD/CHF Trading Lower Within Well-Defined Bearish Structure
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“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 is trading ‘around’ the long watched median line. Given today’s (5/12) failure at an upper parallel, respect the downside as long as price is below .9357.”
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