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USDCHF stays in a trading range
Thursday, September 6, 2012 20:22
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USDCHF stays in a trading range between 0.9503 and 0.9634, the price action in the range is treated as consolidation of the downtrend from 0.9809. Another fall could be expected after consolidation, and next target would be at 0.9400 area. Initial support is at 0.9503, a breakdown below this level could signal resumption of the downtrend. Key resistance is at 0.9634, only break above this level will indicate that the downtrend has completed at 0.9503 already, then the following upward movement could bring price to 0.9800 zone.
