USD/CHF Classical Technical Report 10.28
USD/CHF: The market has been in the process of a major correction since peaking out at 0.9315 on October 6. However, the overall outlook remains constructive, with the pair looking like it is in the process of carving a major base ahead of some major upside over the coming weeks and months. Look for the current round of setbacks to be well supported in the 0.8500 area from where a fresh medium-term higher low is sought out ahead of a bullish resumption back towards and eventually through 0.9315. Ultimately, only a weekly close below 0.8500 would concern.
--- Written by Joel Kruger, Technical Currency Strategist
To contact Joel Kruger, email email@example.com. Follow me on Twitter @JoelKruger
To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.