USD/CHF at Channel Resistance; Shy of January High

By DailyFx | Updated August 05, 2014 AAA

DailyFX.com -

Daily

USD/CHF at Channel Resistance; Shy of January High

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“If a major low is in place in the rate then a low probably forms between .8800 and .8860.” A low formed at .8955 on 7/1 and USDCHF put in a strong July. The rally from that low may be completing an impulse today (8/5), which raises the risk of consolidation between the current level and .9040 (former high).

--Tradingideas are availabletoJ.S. Trade Desk members.

You May Also Like

Related Forex Analysis
  1. Forex News

    USD/CHF retreats to 0.9755 and rises back above 0.9800

  2. Forex News

    Dollar Rally Post-FOMC Bolstered by Surprise SNB Action

  3. Forex News

    SNB unexpectedly sets negative interest rates, ready to do more

  4. Forex News

    USD/CHF hits fresh 17-month high after SNB sets negative interest rates

  5. Forex News

    Swiss Franc Sinks as SNB Surprises with Negative Interest Rates

Trading Center