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USD/CHF Takes Out October 2015 Low and Reverses

USD/CHF Takes Out October 2015 Low and Reverses

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “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.” Today’s low is about as far as USD/CHF can go if price action from the November high is a wedge. Failure to hold here would risk weakness to the May 2015 low near .9070.

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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