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USDCHF pulled back from 0.9975

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 17, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by 0.9971 resistance, USDCHF pulled back from 0.9975. Support is at 0.9820, as long as this level holds, uptrend from 0.9548 is expected to continue and another rise to 1.0100 is still possible. However, a breakdown below 0.9820 will indicate that a cycle top has been formed at 0.9975 on 4-hour chart and the rise from 0.9548 has completed, then range trading between 0.9463 and 1.0000 could be seen to follow.


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