USD/CHF Technical Analysis– Prices are testing resistance at the 0.94 figure, a barrier marked by the underside of a rising trend line set from February and the 38.2% Fibonacci retracement. A break above that exposes the 50% level at 0.9484. Near-term support is at 0.9297, the 23.6% Fib, with a reversal beneath that eyeing a longer-term trend line established from late February 2012 (now at 0.9131).
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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