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USD/CHF Former Resistance is in the .9950s

USD/CHF Former Resistance is in the .9950s

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“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 still don’t have confidence in any direction for USD/CHF and haven’t for years. Levels to pay attention to are former resistance at .9960 and the long term trendline near .9700. Weakness below .9700 would suggest that USD/CHF is headed below .9440 (2016 low).

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

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