USD/CHF Technical Analysis: Digesting Near 16-Month High
To receive Ilya's analysis directly via email, please SIGN UP HERE
- USD/CHF Technical Strategy: Longat 0.9452
- Support: 0.9556, 0.9512, 0.9359
- Resistance:0.9689, 0.9776, 0.9874
The US Dollar is in consolidation mode having advanced to a sixteen-month high against the Swiss Franc. Near-term resistance is in the 0.9677-89 area, marked by the October 6 high and the 38.2% Fibonacci expansion, with a break above that on a daily closing basis exposing the 50% level at 0.9776. Alternatively, a turn below the 23.6% expansion at 0.9556 opens the door for a challenge of trend line support at 0.9512.
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.