USDCHF Classic Technical Report 08.22.2012
Prices broke support in the 0.9650-0.9709 area, with sellers now aiming to challenge a rising trend line set from late May (0.9587). A push below this barrier targets the bottom of a falling channel set from the July 24 high, now at 0.9546. Alternatively, a move back above 0.9709 aims for the channel top (0.9755).
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.