USD/CHF Breaks 8+ Month Trendline
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-As noted previously, “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.” An 8 month trendline was broken today (3/31). The underside of this trendline and recent lows are now resistance at .9661.
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