Filed Under:
Forex pairs in this Article » USD/CHF, USD/CHF
Prices moved higher as expected after putting in a bullish Piercing Line candlestick pattern, taking out initial resistance the 23.6% Fibonacci retracement (0.9157). Buyers now target the 38.2% level at 0.9200. The 0.9157 level has been recast as near-term support, with a reversal back below that aiming for the December 19 swing low at 0.9087.

Forex_Analysis_USDCHF_Classic_Technical_Report_12.24.2012_body_Picture_1.png, Forex Analysis: USD/CHF Classic Technical Report 12.24.2012 4hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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

comments powered by Disqus