USD/CHF Slammed back To Year Open Price
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “USD/CHF pullbacks are becoming shallower. Such developments indicate a strong trend but also warn of complacency and the risk of a washout before the trend can resume.” So, is this the washout or the beginning of a more significant reversal? In truth, USDCHF could trade all the way back to former triangle resistance before resuming higher. That line isn’t until near .9700.