USD/CHF Technical Analysis: A Top Set Below 0.97 Mark?
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- USD/CHF Technical Strategy: Long at 0.9068
- Support:0.9530, 0.9432, 0.9353
- Resistance: 0.9689, 0.9737, 0.9805
The US Dollar may have carved out an interim top against the Swiss Franc after putting in a bearish Dark Cloud Cover candlestick pattern. A daily close below the 23.6% Fibonacci retracementat 0.9530 exposes the 38.2% level at 0.9432. Alternatively, a turn above the October 6 high at 0.9689 clears the way for a test of the 38.2% Fib expansion at 0.9737.
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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.