Forex Analysis: USDCHF Classic Technical Report 10.29.2012
Prices broke about falling trend line resistance set from the July swing high, exposing the next upside barrier at 0.9420. A further push above that targets the 38.2% Fibonacci retracement at 0.9503. Trend line resistance-turned-support is now at 0.9304. A drop back below that targets the 0.9213-34 area.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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