Home  Long Term Forex Analysis USDCHF Analysis - Jul 30, 2008
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USDCHF Analysis - Jul 30, 2008 |
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Written by ForexCycle.com
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Tuesday, 29 July 2008 |
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USDCHF breaks above the resistance of the down trend line from 1.0623 to 1.0539. Further rise to test 1.0539 is still possible, and a break of this level will confirm the resumption of long term up trend. Key support is now located at 1.0010, only fall below this level will signal deeper decline to 0.9900 area.
For long term analysis, USDCHF formed a long term cycle top at 1.0623 on weekly chart. Consolidation in a range between 0.9634 and 1.0623 is expected. Up trend will resume before breaking below 0.9634 level.
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