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USDCHF’s upward movement extends to 0.9567

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 14, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDCHF’s upward movement from 0.9021 extends to as high as 0.9567. Key support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the fall from 0.9567 could be treated as consolidation of the uptrend, another rise to 0.9600 area is still possible after consolidation. On the downside, a clear break below the trend line support will indicate that a cycle top has been formed at 0.9567, and the uptrend from 0.9021 has completed, then the following downward movement could bring price back to 0.8500 zone.

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