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USDCHF’s bounce extended further to 0.9227

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 27, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF’s bounce from 0.8922 extended further to as high as 0.9227. However, next cycle top is nearing, another fall would likely be seen later today. Key support is at the rising trend line on 4-hour chart, a clear break below the trend line support will indicate that a cycle top has been formed, and the downtrend from 0.9774 (Feb 11 high) has resumed, then deeper decline could be seen to 0.8700 zone.


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