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USD/CHF Consolidates after Bullish Wedge Breakout

USD/CHF Consolidates after Bullish Wedge Breakout

2016-06-02 22:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Consolidates after Bullish Wedge Breakout

Chart Prepared by Jamie Saettele, CMT

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-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.

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