USD/CHF Stationary Following Slope Line Breakout
Chart Prepared by Jamie Saettele, CMT
-“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.” .9950s is all that’s in the way of a more important USD/CHF breakout. Watch for support at .9820/40.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.