USDCHF Analysis – October 9, 2010

USDCHF continues its bearish movement from 1.1730 and the fall extended to as low as 0.9555 level. Further decline is still possible next week and next target would be at 0.9400 area. Resistance is at 0.9845, as long as this level holds, downtrend will continue.

For long term analysis, USDCHF is in downtrend, further decline towards 0.8500-0.9000 area is expected next several months.

usdchf daily chart