USDCHF Analysis – October 16, 2010

USDCHF’s bearish movement extended to as low as 0.9463 level. Deeper decline is still possible next week and next target would be at 0.9200-0.9300 area. Resistance is at 0.9727, only break above this level could indicate that the fall from 1.1730 is complete.

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

usdchf daily chart