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USDCHF remains in uptrend from 0.9328

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 9, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF remains in uptrend from 0.9328, and the pullback from 0.9660 is likely consolidation of uptrend. Support is at 0.9523, as long as this level holds, uptrend could be expected to continue and next target would be at 0.9700 area. However, a breakdown below 0.9523 support will indicate that a cycle top had been formed at 0.9660 level on 4-hour chart and the rise from 0.9328 had completed, then deeper decline could be seen to 0.9400 zone.


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