The USDCHF stalls at the multiyear trend line

The USDCHF rally has been very strong in the last several weeks from the beginning of the year, but the pair has ran into a wall of resistance at the multiyear trend line that spawns back from the end of 2016. In addition, the 88% retracement was also at the same area near 1.0080. A decisive move above the 1.0100 level could be quite bullish, but bulls near term should be careful.

USDCHF T/L Resistance

Blake Morrow