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Forex: USD/CHF Technical Analysis – 6-Month Uptrend Broken?

Ilya Spivak

USD/CHF Technical Analysis – Prices narrowly pierced support at a rising trend line set from February and the 38.2% Fibonacci expansion (0.9175), exposing the 50% level at 0.9107. Alternatively, a reversal back above the trend line (now at 0.9184) sees initial resistance at 0.9259, the 23.6% Fib.

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dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – 6-Month Uptrend Broken?

Daily Chart - Created Using FXCM Marketscope 2.0

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

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