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USDCHF broke below 1.0715 support

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 28, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF broke below 1.0715 support, suggesting that lengthier consolidation of uptrend from 1.0132 is underway. Range trading is expected in 1.0608 and 1.0898 in next several days. Key support is at 1.0608, as long as this level holds, one more rise towards 1.1000 is still possible after consolidation. However, a break below 1.0608 level will indicate that the rise from 1.0132 has completed at 1.0898 already, then deeper decline could be seen to 1.0500 or even lower.


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