USDCHF’s fall from 0.9552 extends to 0.9436
March 13, 2013 1:08 am GMT+0 in Forex Analysis
USDCHF’s fall from 0.9552 extends to as low as 0.9436. However, the fall is likely consolidation of the uptrend from 0.9021. Key support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to resume, and another rise to 0.9600 area is still possible after consolidation. On the downside, a clear break below the trend line support will indicate that the uptrend from 0.9021 had completed at 0.9552 already, then the following downward movement could bring price back to 0.9200 zone.