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USD/CHF Technical Analysis: 0.94 Holds Up as Resistance

USD/CHF Technical Analysis: 0.94 Holds Up as Resistance

Ilya Spivak, Head Strategist, APAC

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Talking Points:

  • USD/CHF Technical Strategy: Flat
  • Support:0.9293, 0.9139, 0.9015
  • Resistance: 0.9397, 0.9538, 0.9646

The US Dollar is digesting losses against the Swiss Franc having declined as expected after producing a bearish Evening Star candlestick pattern. A daily close below the 23.6% Fibonacci expansionat 0.9293 exposes the 38.2% level at 0.9139. Alternatively, a turn above the 0.9388-97 area (14.6% Fib, horizontal support-turned-resistance) clears the way for a test of trend line support-turned-resistance at 0.9538.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

Daily Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.