USD/CHF Springs a Bull Trap
Chart Prepared by Jamie Saettele, CMT
-Given this long term chart, USD/CHF is in trouble on a break below .9440. The last update noted that “the 200 day average has failed to hold as resistance and USD/CHF has pushed through the January-June trendline. In other words, short is against the grain for now and the next upside level of interest is the November-February line near parity.” Swissie has quickly erased it’s breakout and sprung a bull trap, which is bearish. Focus is again lower.
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