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Forex: USD/CHF Technical Analysis – Key Trend Line Under Fire

Forex: USD/CHF Technical Analysis – Key Trend Line Under Fire

Ilya Spivak, Head Strategist, APAC

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.

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Key Trend Line Under Fire

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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