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USDCHF pulled back from 1.0624

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 12, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After touching the upper border of the price channel on 4-hour chart, USDCHF pulled back from 1.0624, taking price back to test 1.0461 key support, a breakdown below this level could trigger another fall towards 1.0331 previous low. However, the price action in the trading range between 1.0461 and 1.0624 could possibly be consolidation of uptrend from 1.0331, as long as 1.0461 key support holds, one more rise to test 1.0675 key resistance is still possible.


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