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    USDCHF has formed a cycle top at 0.9769

    by
    ForexCycle.com
    , 06-03-2012 at 08:59 PM (Free Forex Market Analysis)
    USDCHF has formed a cycle top at 0.9769 on 4-hour chart. Key support is a the upward trend line from 0.9043 to 0.9367, as long as the trend line support holds, the fall from 0.9769 is treated as consolidation of the uptrend, and one more rise towards 1.0000 is still possible. On the downside, a clear break below the trend line could indicate that the uptrend has completed at 0.9769 already, then the following downward movement could bring price back to 0.9200 zone.



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