U.S. Markets closed

Forex Analysis: USD/CHF Classic Technical Report 01.11.2013

Ilya Spivak

Prices are testing below support at 0.9138, the 38.2% Fibonacci retracement. A break below this boundary on a daily closing basis initially exposes the 50% level at 0.9088. Near-term resistance is at 0.9201, marked by the 23.6% Fib, with a reversal back above that eyeing a falling trend line now at 0.9250.

Forex_Analysis_USDCHF_Classic_Technical_Report_01.11.2013_body_Picture_1.png, Forex Analysis: USD/CHF Classic Technical Report 01.11.2013

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.