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USD/CHF Still Churning at 200 Day Average and Short Term Fib

USD/CHF Still Churning at 200 Day Average and Short Term Fib

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

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-The last update noted that “the drop has finally separated USD/CHF from the trendline. The final barrier support is probably the 61.8% of the rally from the March low at .9926. Weakness below there would suggest that the 6 year trendline is going to be tested again.” USD/CHF found support at the 200 day average, just as it did on the last day of January. The 61.8% at .9926 is still holding too.

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

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