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USDCHF Classic Technical Report 08.14.2012

USDCHF Classic Technical Report 08.14.2012

Ilya Spivak, Head Strategist, APAC

Prices are probing below support at 0.9735 once again, with a break to the downside initially exposing 0.9650. Near-term resistance is found at the top of a falling channel set from the July 24 high, now at 0.9784. A push above this barrier exposes the 0.9872-98 area marked by the July 13 and August 2 swing highs.

USDCHF_Classic_Technical_Report_08.14.2012_body_Picture_5.png, USDCHF Classic Technical Report 08.14.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.