The USDCHF made a significant move yesterday, break below 1.0350 key support area, bottomed at 1.0258 but closed higher at 1.0318. This fact could trigger further downside pressure testing 1.0220 but another move above 1.0350 could lead us back to range area and neutral zone testing 1.0450 – 1.0500. Below 1.0220, the next bearish target is seen around 1.0130.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.