USD/CHF STILL at the Fibonacci Level
Chart Prepared by Jamie Saettele, CMT
-Swissie hasn’t budged from the 61.8% of the rally from the March low at .9926 since the gap lower on 4/24. Weakness below this level would suggest that the 6 year trendline is going to be tested again (maybe that’s where the SNB is hiding). If this level holds, then the December-March trendline (bullish trigger) is back in play (currently near 1.0035).
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.