USDCHF Classic Technical Report 08.31.2012
Prices are drifting below resistance at a rising trend line established from late May (0.9626). A break higher exposes 0.9650, with a break above that targeting the top of a falling channel set from the July 24 swing high (0.9679). Near-term support is at 0.9547, with a break below that exposing channel support at 0.9471.
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