USD/CHF Trendline Re-Tests and Possible Reversal Pattern

DailyFX

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eliottWaves_usd-chf_body_Picture_4.png, USD/CHF Trendline Re-Tests and Possible Reversal Pattern

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-Keep in mind that the first day of the month remains the low for the month at .9064.

-USDCHF reversed just after dipping below the 11/4 low at .9091.

-Estimated resistance within the range is .9207. and estimated support is .9122.

Trading Strategy: Like the EURUSD and GBPUSD, long USD here could work but the trade seems forced. Not yet (for me at least).

LEVELS: .9044 .9095 .9122 | .9179 .9229 .9250

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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