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USD/CHF Nears April High

USD/CHF Nears April High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

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

-“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.” USDCHF cleared the 61.8% retracement and 4/23 high this week and focus is on the April high at .9862. The 78.6% retracement of the decline from the March high is also of interest at .9900. The latter level (.9900) intersects the median line on Friday.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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