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Forex: USD/CHF Technical Analysis – Bears Held Back at 0.90

Forex: USD/CHF Technical Analysis – Bears Held Back at 0.90

2013-10-04 12:36:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices declined as expected after showing a bearish Dark Cloud Cover candle pattern
  • Sellers are testing support at 0.8993 (76.4% Fib); a break lower exposes 0.8850 (100% Fib)
  • Near-term resistance is at 0.9081 (61.8% Fib); above that targets 0.9152 (50% Fib)

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

dailyclassics_usd-chf_body_Picture_8.png, Forex: USD/CHF Technical Analysis – Bears Held Back at 0.90

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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