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USD/CHF STILL at the Fibonacci Level

USD/CHF STILL at the Fibonacci Level

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-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.

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