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USD/CHF Drifting Lower after .9786 Failure

USD/CHF Drifting Lower after .9786 Failure

2016-04-28 19:19:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Drifting Lower after .9786 Failure

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-As noted in the last update “a push through .9690 would be viewed in a bullish light. Until then, pressure is lower.” The push through .9690 materialized but USDCHF failed at .9786 9well-defined horizontal level). The near term picture is unclear although weakness from the November 2015 high is still a possible wedge. A break through wedge resistance (currently below .99) could launch a major advance.

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