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USD/CHF Key Reversal at Channel Resistance

USD/CHF Key Reversal at Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Key Reversal at Channel Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-I wrote in mid- August 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. Today’s reversal at the 200 day average / channel may lead to the next breakdown attempt.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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