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USDCHF may be forming a cycle top at 0.9417
Thursday, September 27, 2012 19:30
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USDCHF may be forming a cycle top at 0.9417 on 4-hour chart. Key support is now at 0.9325, a breakdown below this level will indicate that the rise from 0.9239 has completed, and the longer term downtrend from 0.9971 (Jul 24 high) has resumed, then further decline towards 0.9000 could be seen. On the other side, as long as 0.9325 support holds, the pair remains in short term uptrend from 0.9239, one more rise to 0.9500 area is still possible.
