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USDCHF's uptrend extended to 1.0794

Franco Shao from ForexCycle.com at 02/08/10


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.

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