Forex Analysis: USD/CHF Classic Technical Report 12.18.2012

DailyFX

Prices broke support in the 0.9213-38 region to challenge the bottom f a falling channel set from the November 13 high at 0.9333. This barrier is reinforced by the 50% Fibonacci expansion at 0.9133. A break below the latter level targets the 61.8% level at 0.9044. The 0.9213-38 area has been recast as resistance, with a push back above that targeting the channel top at 0.9334.

View photo

.
Forex_Analysis_USDCHF_Classic_Technical_Report_12.18.2012_body_Picture_1.png, Forex Analysis: USD/CHF Classic Technical Report 12.18.2012

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments