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:0.9395, 0.9298, 0.9207
- Resistance: 0.9463, 0.9564, 0.9646
The US Dollar launched higher anew against the Swiss Franc, rising the most in a week to establish a new 12-month high. Near-term resistance is at 0.9463, the 23.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 38.2% level at 0.9564. Alternatively, a reversal below the 0.9395-0.9401 area marked by the September 10 high and the 14.6% Fib at clears the way for a challenge of rising trend line support at 0.9298.
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.