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Forex: USD/CHF Technical Analysis – 19-Month Uptrend Broken

Forex: USD/CHF Technical Analysis – 19-Month Uptrend Broken

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 in the 0.9152-70 area (trend line, 50% Fib) has exposed 0.9081 (61.8% Fib)
  • Reversing back above the trend line targets 0.9224 (38.2% Fib expansion)

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – 19-Month Uptrend Broken

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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