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Forex Analysis: USDCHF Classic Technical Report 11.08.2012

Forex Analysis: USDCHF Classic Technical Report 11.08.2012

2012-11-08 13:11:00
Ilya Spivak, Sr. Currency Strategist
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Prices are testing above resistance at 0.9450, a barrier reinforced by the 38.2% Fibonacci retracement at 0.9503. A push above the latter level targets the 50% Fib at 0.9592. Initial trend line support stands at 0.9361, with a break beneath that exposing the 0.9213-38 area.

Forex_Analysis_USDCHF_Classic_Technical_Report_11.08.2012_body_Picture_5.png, Forex Analysis: USDCHF Classic Technical Report 11.08.2012

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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