USD/CHF Technical Analysis: Rally Extends to 1-Year High
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- USD/CHF Technical Strategy: Long at 0.9068
- Support:0.9272, 0.9223, 0.9175
- Resistance: 0.9332, 0.9429, 0.9526
The US Dollar soared to a one-year high against the Swiss Franc after turning higher as expectedhaving put in a Bullish Engulfing candlestick pattern. A daily close above the 76.4% Fibonacci expansion at 0.9332 exposes the 100% level at 0.9429. Alternatively, a turn back belowthe 61.8% Fib at 0.9272 clears the way for a challenge of the50% expansionat 0.9223
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.