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USD/CHF Technical Analysis: Rebound Sparked at Trend Line

USD/CHF Technical Analysis: Rebound Sparked at Trend Line

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis- Prices mounted a recovery from support at a rising trend line set from the February 2012 swing low, pushing above the 23.6% Fibonacci retracement (0.9297) to take aim at the 0.9400 figure. This barrier is marked by the intersection of the 38.2% Fib and an upward-sloping barrier set from the early February. A further push above that eyes the 50% level at 0.9484. Alternatively, a move back beneath 0.9297 clears the way for another test of the trend line, now at 0.9128.

dailyclassics_usd-chf_body_Picture_5.png, USD/CHF Technical Analysis: Rebound Sparked at Trend Line

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.