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USD/CHF Continues to Brush against Former Trendline Support

USD/CHF Continues to Brush against Former Trendline Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Continues to Brush against Former Trendline Support

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent commentary noted that USD/CHF had traded into “the 200 day average and 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.” The rate turned up and continues to test former trendline support. This is the middle of the range and conviction on either side is nil.

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.

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