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USD/CHF Testing Short Term Fibonacci Level as Resistance

USD/CHF Testing Short Term Fibonacci Level as Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-The last USD/CHF update noted that “I’m on high alert for at least a pause over the next few days and maybe more. It should be noted that the 61.8% of the drop from 3/7 is 1.0034.” The Fibonacci retracement is acting as resistance so far. Trendline are higher (just as EUR/USD trendlines are lower) near 1.0100. If price does turn down now, then pay attention to .9899-.9926 for a reaction.

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

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