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USDCHF’s upward movement extended to 0.9274

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 30, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF’s upward movement extended to as high as 0.9274. Support is at 0.9139, as long as this level holds, uptrend could be expected to continue and next target would be at 0.9300-0.9350 area. However, a breakdown below 0.9139 will indicate that a cycle top has been formed at 0.9274 level on 4-hour chart, and the rise from 0.8922 has completed, then deeper decline towards 0.8922 previous low could be seen.

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