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

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

2016-05-10 17:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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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

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