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USD/CHF Responding to Well-Defined Support Level

USD/CHF Responding to Well-Defined Support Level

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/CHF support has held and the expected bounce is materializing. 2 levels to be aware of for resistance are 1.0045 and 1.0094. “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) is the biggest level of all.” I’m looking for a bounce. Again, the long term trendline is near .9700.

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