USD/CHF Technical Analysis: Buyers Challenge 0.94 Mark
USD/CHF Technical Analysis- Prices are testing resistance at the 0.94 figure, a barrier marked by the underside of a rising trend line set from February and the 38.2% Fibonacci retracement. A break above that exposes the 50% level at 0.9484. Near-term support is at 0.9297, the 23.6% Fib, with a reversal beneath that eyeing a longer-term trend line established from late February 2012 (now at 0.9131).
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