USD/CHF Technical Analysis 02.14.2013

DailyFX

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.

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Forex_USDCHF_Technical_Analysis_02.14.2013_body_Picture_5.png, USD/CHF Technical Analysis 02.14.2013

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

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