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USD/CHF Technical Analysis: Sellers Eye 0.92 Figure

Ilya Spivak

USD/CHF Technical Analysis- Prices declined as expected after putting in a Bearish Engulfing candlestick pattern, taking out support marked by arising trend line set from early February and exposing swing lows in the 0.9205-46 area. A push below that targets the 123.6% Fib extension at 0.9056.Alternatively, a reversal back above the trend line (now at 0.9373) aims for the 38.2% Fibonacci retracement at 0.9458.

dailyclassics_usd-chf_body_Picture_9.png, USD/CHF Technical Analysis: Sellers Eye 0.92 Figure

Daily Chart - Created Using FXCM Marketscope 2.0

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

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