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USDCHF may be forming a cycle top at 0.9783

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 12, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF may be forming a cycle top at 0.9783 level on 4-hour chart. Key support is at 0.9604, a breakdown below this level will confirm the cycle top and indicate that the rise from 0.9300 had completed, then the following downward move could bring price back to 0.9400-0.9500 area. Resistance is at 0.9783, only break above this level could trigger another rise to 9900 zone.

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