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USD/CHF Technical Analysis 04.19.2013

Ilya Spivak

USD/CHF Technical Analysis- Prices put in a Bullish Engulfing candlestick pattern above the 0.92 figure, hinting a reversal higher is ahead. Near-term resistance is at 0.9334, the 23.6% Fibonacci expansion. A break above that aims for the 38.2% level at 0.9414. Near-term support is at 0.9205, the April 17 low.

Forex_USDCHF_Technical_Analysis_04.19.2013_body_Picture_1.png, USD/CHF Technical Analysis 04.19.2013

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

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