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USD/CHF Technical Analysis 02.20.2013

USD/CHF Technical Analysis 02.20.2013

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis- Prices broke above resistance at 0.9204, the 50% Fibonacci retracement, exposing the 61.8% level at 0.9248. A further push above that aims for the 76.4% Fib at 0.9301. The 0.9204 mark has been recast as near-term support, with a reversal back above that targeting a rising trend line at 0.9175 and the 23.6% retracement at 0.9108.

Forex_USDCHF_Technical_Analysis_02.20.2013_body_Picture_5.png, USD/CHF Technical Analysis 02.20.2013

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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