USD/CHF Technical Analysis 02.08.2013

USD/CHF Technical Analysis- Prices are testing support-turned-resistance a rising trend line set from mid-December (0.9195), a barrier reinforced by the 50% Fibonacci retracement at 0.9204. A break above the latter level exposes the 61.8% level at 0.9248. Near-term support is at 0.9161, the 38.2% level, with a turn below that targeting 0.9108.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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