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USD/CHF Technical Analysis: 0.94 Level Recast as Support

USD/CHF Technical Analysis: 0.94 Level Recast as Support

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis- Prices took out 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, exposing the 50% level at 0.9484. A further push above that aims for the 61.8% Fib at 0.9567. Alternatively, a reversal back below 0.94 targets 0.9297, the 23.6% retracement.

dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: 0.94 Level Recast as Support

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

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