USD/CHF 200 Day Average Trying to Hold Again
Chart Prepared by Jamie Saettele, CMT
-“Remember, USD/CHF topped on 3/11 and 3/10 the last 2 years. Might USD/CHF be set up to fail around the same date this year? .9964 is the short term pivot (below is bearish).” The top came early this year (3/7) and price has traded below .9964. As such, trend is lower towards the 6 year trendline. I wrote last update that “the 200 day average is just below the market and could influence for some back and fill”. Swissie is backing and filling (trading sideways) but risk remains for lower levels as per the drop under .9964 (watch that level for resistance).
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