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Forex: USD/CHF Technical Analysis – Trying to Build Higher

Forex: USD/CHF Technical Analysis – Trying to Build Higher

2013-10-08 12:47:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • A Bullish Engulfing candlestick pattern hints a rebound is ahead
  • Initial resistance is at 0.9082 (23.6% Fib); break above that targets 0.9153 (38.2% Fib)
  • Near-term support is at 0.8967, the October 3 low

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Trying to Build Higher

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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