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USD/CHF Breaks above Trendline; Median Line Test Coming

USD/CHF Breaks above Trendline; Median Line Test Coming

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

-“USDCHF cleared the 61.8% retracement and 4/23 high so 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.” .9900 was reached today. The median line from the structure that defines the move over the last several months is slightly higher as well (at about .9940 on Wednesday).

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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