USD/CHF Responds at the 5 Year Trendline

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Given this long term chart, USD/CHF is in trouble on a break below .9440. The last daily update noted that “the key reversal on 7/27 and subsequent follow through suggests that USD/CHF is vulnerable.” I wrote last wek to “pay attention to .9540/50 (now!). Weakness below here would signal the break of a 5 year trendline.” The 5 year trendline held which at least delays the immediate breakdown scenario. Keep .9688 (month open) in mind for resistance.

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