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USD/CHF Slammed into 200 day Average

USD/CHF Slammed into 200 day Average

Jamie Saettele, CMT, Sr. Technical Strategist


USD/CHF Slammed into 200 day Average

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent notes warned that “1.0212/40 (78.6% retrace and Jan 2015 high) is the next area that could derail the rally…a double inside day indicates a tight short term consolidation that could lead to the next directional move.” The rally in USD/CHF derailed alright…and the exchange rate has been driven right into the 200 day average and price where the decline from the November high consists of 2 equal legs.

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.