USD/CHF Technical Analysis– Prices put in a bearish Dark Cloud Cover candlestick pattern hinting a move lower is ahead. Initial support is at 0.9630, the 23.6% Fibonacci retracement, with a break below that eyeing the 38.2% level at 0.9549. Near-term resistance is at 0.9761, the May 17 high.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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