1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDCHF’s downward movement extends to 1.0801

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 29, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF’s downward movement extends to as low as 1.0801 level. Resistance remains at the upper boundary of the falling price channel on 4-hour chart. As long as the channel resistance holds, deeper decline is still possible and next target would be at 1.0600-1.0750 area. However, a clear break above the channel resistance will indicate that a cycle bottom is being formed, then minor consolidation of downtrend could be seen.


    Daily Forex Analysis

Share This Page