USDCHF Analysis, June 9th 2010

By IBTimes Staff Reporter | June 09 2010 4:54 AM

USDCHF stays in a trading range between 1.1430 and 1.1730. Lengthier consolidation in the range would more likely be seen in a couple of days. As long as 1.1430 support holds, the price action in the range is treated as consolidation of uptrend form 1.0434 (Apr 1 low), another rise to 1.1900 is still possible after consolidation and a break above 1.1730 could signal resumption of uptrend. However, a break below 1.1430 will indicate that the uptrend from 1.0434 has completed at 1.1730 already, then deeper decline could be seen to 1.1200-1.1300 area.

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