USD/CHF Technical Analysis: Support Found at 0.92
USD/CHF Technical Analysis- Prices declined as expected after putting in a Bearish Engulfing candlestick pattern, taking out support marked by arising trend line set from early February and exposing swing lows in the 0.9205-46 area. A push below that targets the 123.6% Fibonacci extension at 0.9056.The trend line – now at 0.9387 – has been recast as resistance.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.