USD/CHF Nears April High

Daily

Chart Prepared by Jamie Saettele, CMT

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-“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.

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