FOREX Technical Analysis: USD/CHF Breaks Significant Trendline Support
Daily Bars
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: I wrote yesterday "is the USDCHF diverging from the EURUSD? It certainly did today as the CHF was hammered across the board. Still, the larger trend is considered sideways between 9303 and 9077. A break of that zone will determine direction." The USDCHF has broken through 9303 and focus is now on 9382 although I'd not be surprised to the broken trendline tested as support near 9225.
FOREXTrading Strategy: Look to buy weakness below near 9225&EURCHF support begins at 12316.
LEVELS: 9140 9178 9262 9382 9437 9512
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: I wrote yesterday "is the USDCHF diverging from the EURUSD? It certainly did today as the CHF was hammered across the board. Still, the larger trend is considered sideways between 9303 and 9077. A break of that zone will determine direction." The USDCHF has broken through 9303 and focus is now on 9382 although I'd not be surprised to the broken trendline tested as support near 9225.
FOREXTrading Strategy: Look to buy weakness below near 9225&EURCHF support begins at 12316.
LEVELS: 9140 9178 9262 9382 9437 9512
Free Annual Reports
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=56d45a53ef302ced8caf5eac7e6a0c77
