USD/CHF Technical Analysis – Prices are testing support at a rising trend line set from February, a barrier reinforced by the 38.2% Fibonacci expansion at 0.9175. A break below that exposes the 50% level at 0.9107. Near-term resistance is at 0.9259, the 23.6% expansion. A reversal above that clears the way for a challenge of the 38.2% Fib retracement at 0.9394.
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