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Forex: USD/CHF Technical Analysis – Drifting Back to 0.91 Figure

Forex: USD/CHF Technical Analysis – Drifting Back to 0.91 Figure

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices rose as expected after showing a Doji candle, completing a Falling Wedge pattern
  • Support is at 0.9092 (23.6% Fib ret., Wedge top); a break below that eyes the 0.90 figure
  • Resistance is the 0.9192-0.9218 region (trend line from Feb’12, 38.2% Fib retracement)

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

dailyclassics_usd-chf_body_Picture_10.png, Forex: USD/CHF Technical Analysis – Drifting Back to 0.91 Figure

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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