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USDCHF ran in a rising price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, May 15, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF ran in a rising price channel on 4-hour chart, and remains in uptrend from 0.8553. Now the pair had reached the upper border of the channel, minor consolidation of uptrend would likely be seen later today, and another rise towards 0.9000 is still possible after consolidation. Support is at the lower border of the channel, only a clear break below the channel support could indicate that the rise from 0.8553 is complete.


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