USD/CHF Jams into Fibonacci Retracement
Chart Prepared by Jamie Saettele, CMT
-“The next move for USDCHF is huge. The rate has failed at the 200 day average several times in recent months so a push above would indicate an important break above resistance. At the same time, shorts playing the range towards .9215 or so are afforded tight stops.”
-“USDCHF has broken above key resistance (from long term slope and the long term MA. Focus is on .9720 (61.8% retracement of March-May decline and 4/23 high). Watch for support near .9500.” USDCHF made low just above .95 (low was .9524) and reached .9718 today (7/30). This video explains more.