Forex Trading: USDCHF approaches key support at 1.0830 area
Posted by Greg Michalowski on Thu, 08/21/2008 - 2:08pm in
As outlined in previous posts (CLICK HERE TO SEE POST), the USDCHF has been trending in a channel (4 hour chart). The bottom of the channel support and a consoldation low comes in at the 1.0825 to 1.0830 level. The market may find some buyers at the 1.0830 level, but stops should kick in below the 1.0825 level. Be on alert for a break as the dollar corrects from the move higher.
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