USD/CHF Technical Analysis – Prices recoiled from resistance at 0.9394, the 38.2% Fibonacci retracement, sinking to test the 23.6% Fib expansion level at 0.9259. A break below that targets the 0.9175-84 area, marked by the 38.2% expansion and a rising trend line set from February. Alternatively, a move back above 0.9394 eyes the 50% retracement at 0.9462.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya’s e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed