FOREX Technical Analysis: USD/CHF Nearing Resistance above 9200
Daily Bars
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: At this point, sideways trade in the USDCHF since 12/20 is viewed as nothing more than a correction, specifically a flat. Waves A and C of the flat are already equal and today's high is in line with the 12/17 high at 9194. Former lows (10/17 and 12/3) are now potential resistance if reached at 9213/40 along with the 20 day average.
FOREXTrading Strategy: Looking to turn bearish either below 9135 or above 9200
LEVELS: 9105 9135 9160 9214 9241 9275
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: At this point, sideways trade in the USDCHF since 12/20 is viewed as nothing more than a correction, specifically a flat. Waves A and C of the flat are already equal and today's high is in line with the 12/17 high at 9194. Former lows (10/17 and 12/3) are now potential resistance if reached at 9213/40 along with the 20 day average.
FOREXTrading Strategy: Looking to turn bearish either below 9135 or above 9200
LEVELS: 9105 9135 9160 9214 9241 9275
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