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Forex Analysis: USD/CHF Classic Technical Report 11.20.2012

Ilya Spivak

Prices are testing support in the 0.9392-0.9402 area marked by a range top set from late September, the 23.6% Fibonacci retracement, and a rising trend line set from the October 17 low. A bounce here aims for resistance at the 38.2% Fibonacci retracement (0.9503), with a break above that targeting the 50% level at 0.9592. Alternatively, a drop below support aims for the 0.9213-38 region.


Forex_Analysis_USDCHF_Classic_Technical_Report_11.20.2012_body_Picture_1.png, Forex Analysis: USD/CHF Classic Technical Report 11.20.2012

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


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