USD/CHF Technical Analysis– Prices took out resistance at 0.9484, the 50% Fibonacci retracement, exposing the 61.8% level at 0.9567. The 0.9484 mark has been recast as near-term support, with a reversal back beneath that eyeing a rising trend line at 0.9420 and the 0.94 figure.
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