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USD/CHF Drifting Lower after .9786 Failure

Jamie Saettele, CMT

DailyFX.com -

Daily

USD/CHF Drifting Lower after .9786 Failure
USD/CHF Drifting Lower after .9786 Failure

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-As noted in the last update “a push through .9690 would be viewed in a bullish light. Until then, pressure is lower.” The push through .9690 materialized but USDCHF failed at .9786 9well-defined horizontal level). The near term picture is unclear although weakness from the November 2015 high is still a possible wedge. A break through wedge resistance (currently below .99) could launch a major advance.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk


original source

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