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USD/CHF Attempting to Break through Resistance Line

USD/CHF Attempting to Break through Resistance Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Attempting to Break through Resistance Line

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 (think .8600). USDCHF also continues to respect bearish slope with uncanny precision.” Today’s (6/23) move may indicate an important change in behavior. USDCHF did push well above slope resistance on an intraday basis but it finishing the day right at the line. It’s decision time in USDCHF.

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