USD/CHF Technical Analysis – Prices bounced from support at a rising trend line set from February, taking out resistance is at 0.9309 marked by the 23.6% Fibonacci retracement. The bulls now aim to challenge the 38.2% level at 0.9394, with a break above that eyeing the 50% Fib at 0.9462. Alternatively, a move back below 0.9309 eyeing the trend line (now at 0.9183) anew.
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