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USD/CHF Bear or Bottom?

USD/CHF Bear or Bottom?

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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 has held as resistance at .9661.” A push through .9690 would be viewed in a bullish light. Until then, pressure is lower.

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.