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USD/CHF Technical Analysis 04.23.2013

USD/CHF Technical Analysis 04.23.2013

2013-04-23 10:47:00
Ilya Spivak, Head Strategist, APAC
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USD/CHF Technical Analysis- Prices are pushing higher as expected after putting in a Bullish Engulfing candlestick pattern above the 0.92 figure. Buyers are aiming to challenge resistance at 0.9414, the 38.2% Fibonacci expansion. A break above that aims for the 50% level at 0.9478. Near-term support is at 0.9334, the 23.6% Fib.

Forex_USDCHF_Technical_Analysis_04.23.2013_body_Picture_5.png, USD/CHF Technical Analysis 04.23.2013

Daily Chart - Created Using FXCM Marketscope 2.0

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--- 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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