Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-USDCHF has retraced slightly more than half of the advance from .9146. The 61.8% retracement is at .9264.
-The 20 day average continues to serve as support. The 200 day average is at .9347 and slope is flat.
-Parallel channel support as presented on Tuesday failed to hold which makes the impulsive interpretation suspect. A push above .9370 is needed in order to rid the market of near term bear pressures.
Trading Strategy: Flat
LEVELS: .9216 .9246 .9264 | .9335 .9370 .9396