USD/CHF Technical Analysis: Bottom Found Above 0.92

DailyFX

USD/CHF Technical Analysis- Prices declined as expected after putting in a Bearish Engulfing candlestick pattern, taking out support marked by arising trend line set from early February and exposing swing lows in the 0.9205-46 area. A cautious recovery is now under way, with a break above initial resistance at the 23.6% Fibonacci retracement (0.9369) exposing the 38.2% level at 0.9458. Alternatively, a push below support eyes the 123.6% Fib extension at 0.9056.

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dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: Bottom Found Above 0.92

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

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