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Forex: USD/CHF Technical Analysis – Franc Launches Counter-Strike

Forex: USD/CHF Technical Analysis – Franc Launches Counter-Strike

Ilya Spivak, Head Strategist, APAC

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.

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Franc Launches Counter-Strike

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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