USD/CHF Technical Analysis– Prices took out 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, exposing the 50% level at 0.9484. A Shooting Star candlestick below this level warns a reversal lower may be ahead, with a turn back below 0.94 targeting the 23.6% retracement at 0.9297.Alternatively, a break above resistance aims for the 61.8% Fib at 0.9567.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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