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Forex: USD/CHF Technical Analysis – Support Seen Above 0.89

Forex: USD/CHF Technical Analysis – Support Seen Above 0.89

2014-01-15 09:02:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices declined as expected after putting in a Bearish Engulfing candle pattern
  • Support is at 0.8954 (38.2% Fib exp.); below that eyes 0.8901 (50% Fib exp.)
  • Back above 0.9020 (23.6% Fib exp.) exposes 0.9127 (January 8 swing high)

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

dailyclassics_usd-chf_body_Picture_2.png, Forex: USD/CHF Technical Analysis – Support Seen Above 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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