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Forex: USD/CHF Technical Analysis – Bulls Lose Grip on 0.89

Forex: USD/CHF Technical Analysis – Bulls Lose Grip on 0.89

2013-12-31 07:31:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices broke support at 0.8903 (23.6% Fib exp.), exposing 0.8843 (38.2% Fib exp.)
  • A further push lower targets 0.8795 (50% Fib exp.)
  • Reversing back above 0.8903 aims for 0.8950 (falling trend line)

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

dailyclassics_usd-chf_body_Picture_8.png, Forex: USD/CHF Technical Analysis – Bulls Lose Grip on 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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