USD/CHF Rolls Over; Look Towards .8945

By DailyFx | June 12, 2014 AAA

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USD/CHF Rolls Over; Look Towards .8945

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 | .8986 .9005 .9036

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

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