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USDCHF broke below 0.8326 previous low

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 26, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF broke below 0.8326 previous low and reached as low as 0.8315. Resistance is at downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend from 0.8550 could be expected to continue, and next target would be at 0.8200 zone. However, a clear break above the trend line resistance will indicate that lengthier consolidation of the long term downtrend from 1.1730 (2010 high) is underway, then further rally could be seen to 0.8650.


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