USDCHF's uptrend extended to 1.0794

07 February 2010 @ 09:54 pm EDT

USDCHF's uptrend extended to as high as 1.0794 level and reached the upper border of the rising price channel on 4-hour chart. Minor consolidation would more likely be seen later today. However, further rally is still expected after consolidation and next target would be at 1.0900-1.1000 area. Support is at the bottom of the channel now at 1.0560, only fall below this level could indicate that the rise from 1.0132 has completed.

usdchf

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

E-Newsletters

We value your privacy. Your email address will not be shared.