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USD/CHF Cracks 200 Day Average; Drop Could be a Wedge

USD/CHF Cracks 200 Day Average; Drop Could be a Wedge

2016-03-17 21:12:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Cracks 200 Day Average; Drop Could be a Wedge

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The 200 day average break in USD/CHF negates any upside potential for now but the trendline that extends off of the May, June, and August 2015 highs is just below and could offer interim support. The next big support may not be until near .9400 (longer term trendline). The contracting nature of the decline since November indicates potential for a wedge to form.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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