Wednesday’s minor rally attempt encouraged a neutral call yesterday. The suggested parameters were broken on the downside and the subsequent decline took USDCHF to the most negative levels traded for 6 weeks. This kept Keltner channels bearish and we look for this negative undertone to continue. So this morning’s call is a Sell at .8815 but leaving room to also Sell at .9831. The risk is yesterday's .9863 opening price with downside objectives at .9788, yesterday's low, .9764 and .9743, the 6 week low.
Negative Channel
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