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USD/CHF .9786-.9840s Could Induce a Pullback

USD/CHF .9786-.9840s Could Induce a Pullback

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF .9786-.9840s Could Induce a Pullback

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.” Last week’s low is about as far as USD/CHF can go if price action from the November high is a wedge. Exceeding wedge resistance (currently mid-.9800s) would bolster bullish prospects.

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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