USDCHF's uptrend extends further to as high as 1.0428

Franco Shao from ForexCycle.com at 12/16/09

 

USDCHF’s uptrend extends further to as high as 1.0428. Now the pair is facing the upper border of the rising price channel on 4-hour chart, a minor consolidation is expected in a couple of days and pullback to the bottom of the channel would more likely be seen. As long as the channel support holds, we’d expect uptrend to resume and one more rally towards1.0500 area is still possible after consolidation.