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

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

2016-04-12 19:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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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.

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