USD/CHF .9786-.9840s Could Induce a Pullback
Chart Prepared by Jamie Saettele, CMT
-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.