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Forex: USD/CHF Technical Analysis – Resistance Seen Below 0.9400

Ilya Spivak

USD/CHF Technical Analysis – Prices bounced from support at a rising trend line set from February, taking out resistance is at 0.9309 marked by the 23.6% Fibonacci retracement. The bulls now aim to challenge the 38.2% level at 0.9394, with a break above that eyeing the 50% Fib at 0.9462. Alternatively, a move back below 0.9309 eyeing the trend line (now at 0.9183) anew.

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dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Resistance Seen Below 0.9400

Daily Chart - Created Using FXCM Marketscope 2.0

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

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