USD/CHF .9080 Serves as Important Near Term Pivot

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eliottWaves_usd-chf_body_usdchf.png, USD/CHF .9080 Serves as Important Near Term Pivot

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-The line that extends off of the 2012 and February lows was broken last week. The underside of this level was resistance on Friday.

-Levels to pay attention to if the floor opens up…the 2012 low at .8930, 38.2% of the rally from 2011 low at .8862, and the October 2011 low at .8567.

Trading Strategy: Price is vulnerable below .9080. Above there would shift focus to .9145/75.

LEVELS: .8862 .8930 .8993 | .9080 .9145 .9175

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