Forex Analysis: USD/CHF Classic Technical Report 12.12.2012

DailyFX

Prices rebounded from support in the 0.9213-38 region to target the 0.9381-0.9402 area, marked by a range top set from late September and the 23.6% Fibonacci retracement. A break above that targets the underside of a rising trend line set from the October 17 low (0.9465) and the 38.2% level at 0.9503. Alternatively, a drop below support initially aims for the 50% Fib expansion at 0.9133.

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Forex_Analysis_USDCHF_Classic_Technical_Report_12.12.2012_body_Picture_1.png, Forex Analysis: USD/CHF Classic Technical Report 12.12.2012

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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