USDCHF stays in a trading range

Franco Shao from ForexCycle.com at 11/17/09

 

USDCHF stays in a trading range between 1.0035 and 1.0193. Moving sideways without trend in the range is expected later today. However, the price action from 1.0035 is more likely consolidation of downward trend from 1.0338, another fall towards 0.9900 is still possible after consolidation, and a breakdown below 1.0035 could signal resumption of downtrend.