USD/CHF Familiar Moving Average (200 DMA) Just Above
Chart Prepared by Jamie Saettele, CMT
-“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 and USDCHF reversed sharply. The rate does remain within the confines of an uptrend however. That uptrend would be broken on a drop below uptrend support.” The break below uptrend support on 8/19 is an important behavior change. Near term focus is on .9215.
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