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USDCHF moved sideways in a range between 0.9147 and 0.9289

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 26, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by 0.9130 (Jun 13 low) support, USDCHF rebounded from 0.9147, and moved sideways in a range between 0.9147 and 0.9289. Initial resistance is at 0.9289, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.9396, another fall to re-test 0.9130 could be seen. On the upside, a break above 0.9289 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9751 is underway, then further rise to 0.9350 area is possible.


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