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Forex: USD/CHF Technical Analysis – Rejected Above 0.91 Figure

Forex: USD/CHF Technical Analysis – Rejected Above 0.91 Figure

2014-01-23 12:23:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are recoiling from resistance in the 0.9111-27 area (38.2% Fib exp., Jan 8 high)
  • Breaking below support at 0.8986 (Dec 19 high) exposes 0.8918 (Oct 25 close)
  • Reversing above 0.9127 aims for 0.9150 (50% Fib exp.)

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

dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Rejected Above 0.91 Figure

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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