USD/CHF Technical Analysis- Prices are testing below support at 0.9437, the 23.6% Fibonacci retracement, after putting in a bearish Dark Cloud Cover candlestick pattern.Negative RSI divergence reinforces the case for a downside scenario. A break below support initially exposes the 38.2% Fib at 0.9358. Near-term resistance is at 0.9566, the March 14 high.
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
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
