1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDCHF broke above 1.0222 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 7, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF broke above 1.0222 resistance. The subsequent pullback from 1.0244 is more likely minor consolidation of uptrend. Another rise towards 1.0338 key resistance is still possible after consolidation. Support level is now at 1.0135 followed by 1.0075, as long as 1.0135 support holds, we’d expect uptrend to continue, however, below this level will suggest that a short term cycle top is being formed at 1.0244 on 4-hour chart, then range trading between 1.0075 and 1.0244 is expected to follow.


    Daily Forex Forecast

Share This Page