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USD/CHF Bounces off of Short Term 61.8% Retracement

USD/CHF Bounces off of Short Term 61.8% Retracement

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CHF Bounces off of Short Term 61.8% Retracement

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The 5 year trendline held in USD/CHF which at least delays the immediate breakdown scenario. Swissie is testing the 200 day average, which could provide resistance for another move lower.” USD/CHF has turned down sharply from the 200 day average. Another run at the 5 year trendline may be in the works.

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

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