U.S. Markets closed

USD/CHF Technical Analysis 04.12.2013

Ilya Spivak

USD/CHF Technical Analysis- Prices pushed lower after putting in a Dark Cloud Cover candlestick pattern below trend line support-turned-resistance. Sellers are now testing the 50% Fibonacci retracement at 0.9294.A push beneath that aims for the 61.8% Fib at 0.9229. Near-term resistance is at 0.9358, the 38.2% retracement. A turn back above that eyes the 23.6% mark at 0.9437.

Forex_USDCHF_Technical_Analysis_04.12.2013_body_Picture_5.png, USD/CHF Technical Analysis 04.12.2013

Daily Chart - Created Using FXCM Marketscope 2.0

Want to back-test your technical trading strategy? Download the historical data here.

--- 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.