USD/CHF Familiar Moving Average (200 DMA) Just Above
DailyFX.com -
Daily
Chart Prepared by Jamie Saettele, CMT
Automate trades with Mirror Trader and see ideas on other USD crosses
-“USDCHF cleared the 61.8% retracement and 4/23 high so focus is on the April high at .9862. The 78.6% retracement of the decline from the March high is also of interest at .9900.”
-“.9900 was reached and USDCHF reversed sharply. The rate does remain within the confines of an uptrend however. That uptrend would be broken on a drop below uptrend support.” The break below uptrend support on 8/19 is an important behavior change. Near term focus is on .9215.
For more analysis and trade setups (exact entry and exit), visit SB Trade Desk
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.