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USDCHF’s upward move extended to 0.9339

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 3, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCHF’s upward move from 0.8922 extended to as high as 0.9339. Support is at the rising trend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue and next target would be at 0.9400 zone. However, a clear break below the trend line will indicate that a cycle top is being formed, and the uptrend from 0.8922 is complete, then deeper decline towards 0.8922 previous low could be seen.


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