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Forex: USD/CHF Technical Analysis – Break Lower Exposes 0.9224

Forex: USD/CHF Technical Analysis – Break Lower Exposes 0.9224

2013-09-12 11:30:00
Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices declined as expected after showing a bearish Dark Cloud Cover candle pattern
  • A break of support at 0.9312 (23.6% Fib) now exposes 0.9224 (38.2% Fib)
  • Reversing back 0.9312 opens the door for a test of 0.9455, the September 6 swing high

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Break Lower Exposes 0.9224

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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