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Forex: USD/CHF Technical Analysis – Resistance Above 0.89 in Focus

Forex: USD/CHF Technical Analysis – Resistance Above 0.89 in Focus

2013-12-17 04:37:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • A bullish Morning Star candlestick pattern hints a move higher is ahead
  • Breaking above resistance at 0.8936 (23.6% Fib ret.) exposes 0.8996 (38.2% Fib ret.)
  • Near-term support is at 0.8839, the December 11 swing low

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

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Resistance Above 0.89 in Focus

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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