USD/CHF Technical Analysis- Prices put in a Bearish Engulfing candlestick pattern after testing support-turned-resistance a rising trend line set from mid-December, hinting a move lower is ahead. Near-term support is at 0.9129, the 23.6% Fibonacci expansion, with a break below that exposing the 38.2% level at 0.9076. Trend line resistance is now at 0.9207, followed by the December 12 high at 0.9216.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE