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Forex: USD/CHF Technical Analysis – Bullish Reversal Signal Brewing

Ilya Spivak

USD/CHF Technical Analysis – Prices appear to be carving out a bullish Head and Shoulders chart pattern above support at a rising trend line set from February. Confirmation of the setup requires a close above the 38.2% Fibonacci retracement at 0.9394. Near-term support is at 0.9259, the 23.6% Fib expansion, with a move back below that eyeing the trend line (now at 0.9186) anew.

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dailyclassics_usd-chf_body_Picture_6.png, Forex: USD/CHF Technical Analysis – Bullish Reversal Signal Brewing

Daily Chart - Created Using FXCM Marketscope 2.0

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

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