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USD/CHF Technical Analysis: Break Higher Fails to Impress

USD/CHF Technical Analysis: Break Higher Fails to Impress

2013-07-22 10:05:00
Ilya Spivak, Head Strategist, APAC
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USD/CHF Technical Analysis – A lackluster break higher failed to produce follow-through as we suspected, with prices reversing lower toward support at 0.9367 marked by the 61.8% Fibonacci retracement. A break below this targets the 76.4% level at 0.9276. Alternatively, a reversal back above the 50% Fib at 0.9440 eyes the 38.2% retracement at 0.9513.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: Break Higher Fails to Impress

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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