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Forex: USD/CHF Technical Analysis – Readying Upward Reversal?

Forex: USD/CHF Technical Analysis – Readying Upward Reversal?

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • A Spinning Top candle above Falling Wedge resistance-turned-supports hints at a bounce
  • Breaking above initial resistance at 0.9125 (23.6% Fib exp.) exposes 0.9177 (38.2% Fib)
  • Near-term support is in the 0.9131-40 area (Wedge top, Nov 27 low)

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

dailyclassics_usd-chf_body_Picture_10.png, Forex: USD/CHF Technical Analysis – Readying Upward Reversal?

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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