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USDCHF formed a trading range between 1.0148 and 1.0285

Posted 11-02-2009 at 08:39 PM by ForexCycle.com

USDCHF formed a trading range between 1.0148 and 1.0285. Pullback to 1.0100 to reach next short term cycle bottom on 4-hour chart could be seen in a couple of days. However, the price action from 1.0285 is more likely consolidation of uptrend from 1.0032, as long as 1.0032 support holds, we’d expect uptrend to resume and another rise towards 1.0400 is possible.

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