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USDCHF might be forming a cycle top at 0.9368

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 10, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF might be forming a cycle top at 0.9368 level on 4-hour chart. Another fall to test 0.9201 key support would likely be seen later today, a break below this level will indicate that the downtrend from 0.9774 has resumed, then next target would be at 0.9100 zone. However, above 0.9368 will suggest that lengthier consolidation of downtrend from 0.9774 is underway, then further rally could be seen to 0.9400-0.9450 area.

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