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USD/CHF Holding Downtrend Support; .9661 is Resistance

USD/CHF Holding Downtrend Support; .9661 is Resistance

2016-04-07 18:24:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Holding Downtrend Support; .9661 is Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/CHF is exceptionally quiet at the moment but its time will come. As noted in recent updates, “the next big support may not be until near .9400 (longer term internal trendline). The contracting nature of the decline since November indicates potential for a wedge to form. The underside of the recently broken 8 month trendline and recent lows are estimated resistance at .9661.

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