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USDCHF dropped sharply from 1.0785

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 11, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After breaking below the lower border of the price channel on 4-hour chart, USDCHF dropped sharply from 1.0785, suggesting that a cycle top had been formed. Now the fall from 1.0785 is treated as resumption of downtrend, deeper decline towards 1.0434 previous low could be seen in next several days. Resistance is at 1.0610 followed by 1.0645.


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