USDCHF Classic Technical Report 10.22.2012
Prices are retesting support-turned-resistance at a rising trend line set from late February (0.9299), a barrier reinforced by a downward-sloping barrier set from the July 24 swing high (now at 0.9321). A break above the latter level exposes 0.9420. Initial support is at 0.9214, the October 18 low, with a reversal beneath that targeting 0.9042.
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.