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USDCHF may be forming a cycle top at 0.9233

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 29, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF may be forming a cycle top at 0.9233 on 4-hour chart. Key support is now at 0.9139, a breakdown below this level will confirm the cycle top, then another fall towards 0.8922 previous low could be seen. Immediate resistance is at 1.9233, only break above this level could indicate that the uptrend from 0.8922 has resumed, then next target would be at 0.9300-0.9350 area.

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