USD/CHF Technical Analysis – Prices broke higher, completing a bullish Falling Wedge chart pattern and exposing the 23.6% Fibonacci expansion at 0.9374. A pullback from this barrier has stalled following a re-test of the Wedge top, a barrier reinforced by a rising trend line set from February (0.9238), with an Inverted Hammer candlestick hinting at renewed upside ahead. Alternatively, a break below support eyes the 0.9200 figure.
Confirm your chart-based trade setups with the Technical Analyzer.
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