The pair reached the previous high at 1.1490 and formed a double top on the 4 hour charts, the high is also a resistance level provided by the upsloping trendline we've mentioned in some previous posts. The short term bias is bearish and we're looking at the 1.1400 area as first support and after that at the lower trendline around the 1.1350 level with a final target at 1.1275.
Forex Technical Report
USDCHF Double Top
Thu, Oct 16 2008, 10:06 GMT
by
Forex Hound Analysis Team
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