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USD/CHF Technical Analysis: Buyers Challenge 0.94 Mark

Ilya Spivak

USD/CHF Technical Analysis- Prices are testing resistance at the 0.94 figure, a barrier marked by the underside of a rising trend line set from February and the 38.2% Fibonacci retracement. A break above that exposes the 50% level at 0.9484. Near-term support is at 0.9297, the 23.6% Fib, with a reversal beneath that eyeing a longer-term trend line established from late February 2012 (now at 0.9131).

dailyclassics_usd-chf_body_Picture_6.png, USD/CHF Technical Analysis: Buyers Challenge 0.94 Mark

Daily Chart - Created Using FXCM Marketscope 2.0

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

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