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USD/CHF – Hard Rejection at 2015 High

USD/CHF – Hard Rejection at 2015 High

2017-01-05 19:51:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CHF – Hard Rejection at 2015 High

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Continue to be aware of 1.0450 or so but the continued failures above 1.0300 don’t exactly inspire confidence in the upside. Weakness below 1.0030 is needed in order to suggest a broader reversal.” I don’t have confidence in any direction for USD/CHF and haven’t for years. That said, the firm rejection at the 2015 high is not bullish. Levels to pay attention to are former resistance at .9960 and the long term trendline near .9700.

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

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