Forex: USD/CHF Technical Analysis – Key Trend Line Under Fire
USD/CHF Technical Analysis – Prices are testing support at a rising trend line set from February, a barrier reinforced by the 38.2% Fibonacci expansion at 0.9175. A break below that exposes the 50% level at 0.9107. Near-term resistance is at 0.9259, the 23.6% expansion. A reversal above that clears the way for a challenge of the 38.2% Fib retracement at 0.9394.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.