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Forex Analysis: USD/CHF Classic Technical Report 12.17.2012

Forex Analysis: USD/CHF Classic Technical Report 12.17.2012

Ilya Spivak, Head Strategist, APAC

Prices broke support in the 0.9213-38 region, exposing the 50% Fibonacci expansion at 0.9133. A break below that targets the 61.8% level at 0.9044. The 0.9213-38 area has been recast as resistance, with a push back above that targeting the 0.9381-0.9402 region.

Forex_Analysis_USDCHF_Classic_Technical_Report_12.17.2012_body_Picture_1.png, Forex Analysis: USD/CHF Classic Technical Report 12.17.2012

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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