USD/CHF Technical Analysis: Franc Drops to 12-Month Low
To receive Ilya's analysis directly via email, please SIGN UP HERE
- USD/CHF Technical Strategy: Long at 0.9068
- Support:0.9332, 0.9272, 0.9223
- Resistance: 0.9429, 0.9526, 0.9586
The US Dollar soared to a 12-month high against the Swiss Franc after turning higher as expectedhaving put in a Bullish Engulfing candlestick pattern. A daily close above the 100% Fibonacci expansion at 0.9429 exposes the 123% level at 0.9526. Alternatively, a reversal back belowthe 76.4% Fib at 0.9272 opens the door for a test of the61.8% expansionat 0.9272.
Add these technical levels directly to your charts with our Support/Resistance Wizard app!
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.