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USD/CHF Continues to Respect Downtrend Slope

USD/CHF Continues to Respect Downtrend Slope

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Continues to Respect Downtrend Slope

Chart Prepared by Jamie Saettele, CMT

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

-Is USDCHF leading? Lower highs and lower lows since February along with a bearish daily RSI profile indicate potential for something bigger on the downside. USDCHF also continues to respect bearish slope. A break through the top of the range would open up .9704/24 (2 equal legs from the May low and 61.8% retracement of decline from March high).

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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