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USD/CHF Technical Analysis 04.10.2013

Ilya Spivak

USD/CHF Technical Analysis- Prices continue to push lower after putting in a Dark Cloud Cover candlestick pattern below trend line support-turned-resistance. Sellers took out support at 0.9358, the 38.2% Fibonacci retracement, exposing the 50% mark at 0.9294. A push beneath that aims for the 61.8% Fib at 0.9229. The 0.9358 level has been recast as resistance. A turn back above that eyes the 23.6% retracement at 0.9437.

Forex_USDCHF_Technical_Analysis_04.10.2013_body_Picture_5.png, USD/CHF Technical Analysis 04.10.2013

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

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