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USDCHF breaks below 0.9500 key support

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ForexCycle.com
, 06-10-2012 at 09:45 PM (632 Views)
USDCHF breaks below 0.9500 key support and reaches as low as 0.9478, suggesting that the uptrend from 0.9043 has completed at 0.9769 already. The pair is now in downtrend, further decline could be expected over the next several days, and next target would be at 0.9300 area. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.



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