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USD/CHF Bulls Still Face .9950s

USD/CHF Bulls Still Face .9950s

2016-10-11 23:12:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF Bulls Still Face .9950s

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Since May, USD/CHF has bounced between a 5 year trendline and parallel that relates to the November 2015-January 2016 trendline. A break of one of these barriers will indicate that the range underway since May is complete and that the next directional move is underway. Resistance levels to be aware of are .9850 and .9950.” .9950 is all that’s in the way of a USD/CHF breakout. In the event of pullback, watch for support at .9820/40.

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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