Forex: USD/CHF Technical Analysis – Bulls Retake Momentum
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USD/CHF Technical Analysis
- Prices pushed higher as expected after putting in a bullish Piercing Line candlestick pattern
- Break above resistance at 0.9290 (23.6% Fib retracement) exposes 0.9378 (38.2% level)
- Reversal back under 0.9290 targets a rising trend line set from February 2012 (now at 0.9164)
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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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