USD/CHF Outside Day at Downtrend Support; Wedge Still Possible
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.
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.