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USDCHF’s downward movement extends to 0.9093

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 30, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF’s downward movement from 0.9388 extends to as low as 0.9093. The pair is now facing 0.9083 previous low support, a breakdown below this level will indicate that the longer term downtrend from 0.9971 (Jul 24, 2012 high) has resumed, then further decline towards 0.8500 could be seen. Initial resistance is at 0.9150, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could bring price back to 0.9400 zone.


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