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USD/CHF Maintaining Bullish Wedge Breakout

USD/CHF Maintaining Bullish Wedge Breakout

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.” USD/CHF broke through the wedge so the ‘major advance’ may be underway. Near term, the year open price at 1.0007 could provide resistance.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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