USDCHF break above 0.9270 resistance
October 22, 2012 2:51 am in Forex Analysis
USDCHF break above 0.9270 resistance, suggesting that a cycle bottom has been formed at 0.9214 on 4-hour chart, and lengthier consolidation of the downtrend from 0.9971 (Jul 24 high) is underway. Further rise would likely be seen and next target would be at 0.9350 area. Support is at 0.9214, only break below this level could signal resumption of the downtrend from 0.9431, then another fall towards 0.9000 could be seen.