USD/CHF Testing Trendline Resistance
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USD/CHF Testing Trendline Resistance

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Chart Prepared by Jamie Saettele, CMT

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-The USD/CHF drop into the March low fell short of the 6 year trendline, which is frustrating because that would have been the ideal level for support. It's almost as if the market decided to 'front run' the trendline. Currently, Swissie is testing the 2017 trendline (line off of January and March highs) so this is a last chance of sorts for a turn lower. A break above the March high would leave the decline from January in 3 waves, which carries bullish implications.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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