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USD/CHF May High Doing its Part; .9850 Might Be Bigger

USD/CHF May High Doing its Part; .9850 Might Be Bigger

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/CHF is holding former resistance (May 2016 high). As long as this is the case, it’s OK to look higher but 1.0083 is a level to pay attention to for resistance. Weakness below .9960 probably opens up .9885, which might be more important given the proximity of the September high and 200 day average. .9700 (6+ year trendline) the biggest level of all.

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