USD/CHF Holding at 200 Day Average and Measured Move Level
Chart Prepared by Jamie Saettele, CMT
-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…right into the 200 day average and price where the decline from the November high consists of 2 equal legs at .9714. A low could try and form between here and a trendline confluence near .9600.
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