U.S. Markets open in 8 hrs 49 mins

USD/CHF Technical Analysis 03.21.2013

Ilya Spivak

USD/CHF Technical Analysis- Prices moved lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern. Initial support has been found 0.9382, a former resistance level, with prices now retesting a broken rising trend line now at 0.9516. A push above that aims for the March 14 high at 0.9566. Alternatively, a drop through support targets a former channel top at 0.9291.

Forex_USDCHF_Technical_Analysis_03.21.2013_body_Picture_5.png, USD/CHF Technical Analysis 03.21.2013

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.