Forex: USD/CHF Technical Analysis – Franc Launches Counter-Strike
USD/CHF Technical Analysis – Prices recoiled from resistance at 0.9394, the 38.2% Fibonacci retracement, sinking to test the 23.6% Fib expansion level at 0.9259. A break below that targets the 0.9175-84 area, marked by the 38.2% expansion and a rising trend line set from February. Alternatively, a move back above 0.9394 eyes the 50% retracement at 0.9462.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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