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USDCHF breaks below upward trend line
Tuesday, October 2, 2012 20:10
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USDCHF breaks below the upward trend line on 4-hour chart, suggesting that a cycle top has been formed at 0.9437, and the upward movement from 0.9239 has completed. Further decline to test 0.9239 previous low support could be expected, a breakdown below this level will signal resumption of the longer term downtrend from 0.9971 (Jul 24 high). Resistance is at 0.9437 only break above this level could trigger another rise to 0.9500 area.
