USD/CHF 200 Day Average and September Low in Focus
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.”
-The break below uptrend support on 8/19 was an important behavior change and USDCHF declined accordingly before reversing sharply higher. Contracting trade since March may compose a triangle, in which case USDCHF will trade down to .9215-.9400 before finding support.
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