USD/CHF Short Term Double Bottom Target at .9637
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.” A short term double bottom has completed and yields a target of .9637. Be aware of former support as resistance now near .9480.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.