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USD/CHF Consolidates after Triangle Breakout

USD/CHF Consolidates after Triangle Breakout

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

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

-There is no change to the previous comments regarding USD/CHF. “USD/CHF has broken out from a 7+ month triangle. The rate has stalled at the year open price. If this breakout is going to lead to a major advance, then the top side of the triangle resistance line may provide support if reached. That line is currently below .98. The triangle breakout objective is 1.1182.”

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.