USDCHF Analysis – October 2, 2010

USDCHF remains in downtrend from 1.1730 and the fall extends to as low as 0.9708 level. Further decline is still possible next week and next target is at 0.9634 (2008 low). Resistance is at 1.0000, as long as this level holds, downtrend will continue.

For long term analysis, USDCHF formed a cycle top at 1.1730 level on weekly chart. Further fall to test 0.9634 (2008 low) long term support could be seen.

usdchf daily chart