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Forex: USD/CHF Technical Analysis – Franc Rebounds as Expected

Forex: USD/CHF Technical Analysis – Franc Rebounds as Expected

2014-01-13 09:16:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices declined as expected after putting in a Bearish Engulfing candle pattern
  • Breaking below support at 0.9020 (23.6% Fib exp.) targets 0.8954 (38.2% Fib exp.)
  • Near-term resistance is at 0.9127 (January 8 swing high)

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

dailyclassics_usd-chf_body_Picture_11.png, Forex: USD/CHF Technical Analysis – Franc Rebounds as Expected

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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