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USDCHF is in range trading between 1.0032 and 1.0337

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 21, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF is in range trading between 1.0032 and 1.0337. Moving sideways in the range is still possible next week. However, the price action from 1.0032 is more likely consolidation of downtrend from 1.1021 and deeper decline towards 0.9900 is still possible in a couple of week. Key resistance is located at 1.0337, above this level will indicate that the fall from 1.1021 has completed at 1.0032 level already, then the following uptrend could bring price back to 1.0800 area.

    For long term analysis, USDCHF is in long term bearish movement from 1.1963, further fall is still possible to 0.9800 level.

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