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USDCHF Classic Technical Report 08.16.2012

USDCHF Classic Technical Report 08.16.2012

2012-08-16 05:54:00
Ilya Spivak, Head Strategist, APAC
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Prices are approaching resistance at the top of a falling channel set from the July 24 high, now at 0.9796, with a break higher exposing the 0.9872-98 area marked by the July 13 and August 2 swing highs. Near-term support is at 0.9735, with a push below that targeting 0.9650.

USDCHF_Classic_Technical_Report_08.16.2012_body_Picture_5.png, USDCHF Classic Technical Report 08.16.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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

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