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USD/CHF Faces Resistance from an Internal Parallel

USD/CHF Faces Resistance from an Internal Parallel

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“The election reaction resulted in a test of the trendline and sharp reversal. After all that, Swissie is unchanged on the month (opened November at .9883). What we’re left with is a rectangle consolidation since April. A close above .9944 would trigger a bullish breakout.” Bullish breakout it is. The objective from the breakout is 1.0350.

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

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