USD/CHF Continues to Find Sellers at Post ECB Price (.9005)

By DailyFx | Updated July 30, 2014 AAA

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USD/CHF Continues to Find Sellers at Post ECB Price (.9005)

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The near term path is higher above .8896 but USDCHF faces a load of levels up to .9020 (200 DMA is now, and the February 2013 low is at .9021). Below .8896 would likely give way to .8860.”

-A high was registered just above .9021 after ECB and the reversal took out the prior 8 days’ highs and lows. Failure to follow through (lower) on the reversal leaves .8907 as an important pivot. .8945 is possible support above that level.

LEVELS: .8863 .8915 .8945 | .9005 .9036 .9063

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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