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USD/CHF Technical Analysis: Slow Slide Down Continues

USD/CHF Technical Analysis: Slow Slide Down Continues

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis – Prices are pulling back from resistance at 0.9313, a barrier marked by the 61.8% Fibonacci expansion and reinforced by a falling trend line set from mid-July (0.9308). Near-term support is at 0.9209, the 76.4% level. Alternatively, a reversal above resistance initially targets the 50% expansion at 0.9396.

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

dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: Slow Slide Down Continues

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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