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USDCHF stays below a downtrend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 10, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF stays below a downtrend line from 0.9774 to 0.9339, and remains in downtrend. Further fall is still possible in a couple of weeks, and next target would be at 0.8000-0.8100 area. Resistance is at the downtrend line, only a clear break above the trend line resistance could indicate that the fall from 0.9774 is complete.

    For long term analysis, USDCHF is in downtrend from 1.1730, further decline to 0.8000 area to reach next cycle bottom on weekly is expected.


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