USD/CHF Technical Analysis 04.29.2013

DailyFX

USD/CHF Technical Analysis- Prices pulled back as expected after putting in a Shooting Star candlestick below resistance at 0.9478, the 50% Fibonacci expansion. Sellers are now testing support at 0.9414, the 38.2% Fib, with a move beneath that exposing the 23.6% expansion at 0.9334. Alternatively, a reversal above resistance aims for the 61.8% level at 0.9542.

View photo

.
Forex_USDCHF_Technical_Analysis_04.29.2013_body_Picture_5.png, USD/CHF Technical Analysis 04.29.2013

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 (0)