USDCHF Bears Reject Run at 9400

Jamie Saettele, CMT
September 24, 2012

Daily Bars

eliottWaves_usd-chf_body_usdchf.png, USDCHF Bears Reject Run at 9400
eliottWaves_usd-chf_body_usdchf.png, USDCHF Bears Reject Run at 9400

Prepared by Jamie Saettele, CMT

“The USDCHF has responded to the April pivot of 9251. Still, treat strength as corrective until evidence is sufficient to warrant a bullish bias. The next bearish level of interest is the gap from May at 9184. After trading into congestion from the 9/12 and 9/13 highs, the USDCHF spent most of Monday trading lower. Favor the downside below Monday’s high (9391). Exceeding that level would shift focus to 9410/30.

LEVELS: 9238 9284 9319 9391 9420 9483

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