USDCHF stays in a rising price channel

17 November 2008 @ 08:17 pm EDT

Unchanged in our short term out look, USDCHF stays in a rising price channel on 4-hour chart. Further rally is still possible to 1.2200 zone in a couple of days. Initial support is at the lower border of the price channel, now at 1.1900. Key support is located at 1.1825, below this level will indicate that a short term cycle top has been formed, pullback could be seen to follow, and next short term target would be at 1.1500 zone.

For more forex information, go to www.forexcycle.com

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