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USD/CHF Technical Analysis: 6-Month Trend Support Broken

USD/CHF Technical Analysis: 6-Month Trend Support Broken

Ilya Spivak, Head Strategist, APAC

USD/CHF Technical Analysis – Prices broke support at a rising trend line set from February, exposing the 38.2% Fibonacci expansion at 0.9189. A further push beneath that eyes the 50% level at 0.9127. Trend line support-turned-resistance is now at 0.9240, with a move back above that targeting the 23.6% Fib at 0.9265.

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

dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: 6-Month Trend Support Broken

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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