USD/CHF Technical Analysis– Prices pulled back as expected after putting in a Shooting Star candlestick below resistance at 0.9478, the 50% Fibonacci expansion. Sellers are now testing support at 0.9414, the 38.2% Fib, with a move beneath that exposing the 23.6% expansion at 0.9334. Alternatively, a reversal above resistance aims for the 61.8% level at 0.9542.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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