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USD/CHF - .9996-1.0019 is Well-Defined for Resistance

USD/CHF - .9996-1.0019 is Well-Defined for Resistance

Jamie Saettele, CMT, Sr. Technical Strategist


USD/CHF - .9996-1.0019 is Well-Defined for Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-The last USD/CHF update noted that “trend is lower towards the 6 year trendline…risk remains for lower levels as per the drop under .9964 (watch that level for resistance).” .9964 may still provide resistance BUT .9996-1.0019 is huge. This zone is defined by former lows and the 55 and 20 day averages.

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