USD/CHF Technical Analysis– Prices are pulling back after putting in a Dark Cloud Cover candlestick pattern below resistance at a formerly broken rising trend line. Near-term support is at 0.9437, the 23.6% Fibonacci retracement, with a break below that exposing the 0.9358-82 area marked by the 38.2% level and a horizontal pivot. Resistance is at 0.9566, the March 14 high.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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