USDCHF Classic Technical Report 07.23.2012
Prices are probing above resistance at 0.9871, the 61.8% Fibonacci expansion, as well as the top of a rising channel set from late May (now at 0.9889). A break above the latter boundary exposes the 76.4% expansion at 0.9976 and the parity figure. Near-term support lines up at 0.9785, the 50% Fib, and is bolstered by the repurposed rising trend line connecting major tops since December 2011.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to firstname.lastname@example.org