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Forex: USD/CHF Technical Analysis – Support Found Below 0.89

Forex: USD/CHF Technical Analysis – Support Found Below 0.89

2013-10-25 11:29:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are testing above 0.8933 (50% Fib); a break higher targets 0.8933 (50% Fib)
  • Near-term support is at 0.8876 (61.8% Fib); push lower targets 0.8805 (76.4% Fib)
  • Falling Wedge chart pattern hints at bullish reversal, but confirmation lacking for now

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Support Found Below 0.89

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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