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USDCHF broke above downtrend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 12, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF broke above the downtrend line from 1.0624 to 1.0450, suggesting lengthier consolidation of downtrend is underway. Range trading between 1.0060 and 1.0350 would more likely be seen in next several days. Key support is at 1.0060, a breakdown below this level will indicate that the downtrend from 1.1730 (Jun 1 high) has resumed, then deeper decline could be seen to 1.0000 area.

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