USD/CHF Channel Breakout

Bearish

USDX is showing reversal signs for a pullback if not a reversal but is uncommitted at the time of this post. If USD/CHF does go look for this to go. We have completed 5 “fractal” waves to the upside which helps for a reversal. If we get traction, we are looking for a continuation to the 0.618/ATR Target at 0.9100-0.9112 area. Watch the USDX for any change in direction. The ATR for the pair currently is 53 pips per day and it’s 180 day average is 55 pips.

USDCHF channel breakout

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