USD/CHF Technical Analysis– Prices continue to push lower after putting in a Dark Cloud Cover candlestick pattern below trend line support-turned-resistance. Sellers took out support at 0.9358, the 38.2% Fibonacci retracement, exposing the 50% mark at 0.9294. A push beneath that aims for the 61.8% Fib at 0.9229. The 0.9358 level has been recast as resistance. A turn back above that eyes the 23.6% retracement at 0.9437.
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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