USD/CHF Below 200 Day Average Again
Chart Prepared by Jamie Saettele, CMT
-Focus remains towards the 5 year trendline near .9625. Another test of that trendline will be the 3rd since May so be cognizant of a broader breakdown, especially with a downward sloping (slightly) 200 day average. Previous comments remain. “USD/CHF followed through on its long wick reversal bar on Friday (10/28) and collapsed today. .9720 may provide support for a bounce but the impulsive downside action suggests that the path is lower for another test of the 5 year trendline.”
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