USD/CHF Continues to Brush against Former Trendline Support
Chart Prepared by Jamie Saettele, CMT
-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.