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USDCHF’s bounce extends to 1.0721

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 6, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF’s bounce from 1.0434 extends further to as high as 1.0721 level. Further rally to test 1.0750 resistance is still possible later today. Pullback would more likely be seen before breaking above this level. Support is at 1.0650 followed by 1.0600, below these levels will indicate that a cycle top has been formed on 4-hour chart, then the fallowing downtrend could take price back towards 1.0434 previous low.

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