USD/CHF Technical Analysis: Break Higher Fails to Impress

| 22 juli, 2013 | 0 kommentarer

USD/CHF Technical Analysis – A lackluster break higher failed to produce follow-through as we suspected, with prices reversing lower toward support at 0.9367 marked by the 61.8% Fibonacci retracement. A break below this targets the 76.4% level at 0.9276. Alternatively, a reversal back above the 50% Fib at 0.9440 eyes the 38.2% retracement at 0.9513.

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dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: Break Higher Fails to Impress

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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