USD/CHF Technical Analysis: Franc Sinks to 14-Month Low
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- USD/CHF Technical Strategy: Long at 0.9068
- Support:0.9427, 0.9299, 0.9207
- Resistance: 0.9506, 0.9569, 0.9633
The US Dollar resumed its ascent against the Swiss Franc, with prices soaring to the highest level in 14 months. Near-term resistance is at 0.9506, the 38.2%Fibonacci expansion, with a break above that on a daily closing level exposing the 50% level at 0.9569. Alternatively, a reversal back below the 23.6% Fib at 0.9427 clears the way for a test of the September 16 low at 0.9299.
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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.