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Forex: USD/CHF Technical Analysis – Bulls Set Sights on 0.94 Level

Forex: USD/CHF Technical Analysis – Bulls Set Sights on 0.94 Level

2013-08-14 10:52:00
Ilya Spivak, Head Strategist, APAC
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USD/CHF Technical Analysis – Prices bounced from support at a rising trend line set from February, taking out resistance is at 0.9309 marked by the 23.6% Fibonacci retracement. The bulls now aim to challenge the 38.2% level at 0.9394, with a break above that eyeing the 50% Fib at 0.9462. Alternatively, a move back below 0.9309 eyeing the trend line (now at 0.9182) anew.

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Bulls Set Sights on 0.94 Level

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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