USDCHF Analysis – February 6, 2011

Being supported by 0.9300 previous low, USDCHF rebounded from 0.9328, suggesting that lengthier consolidation of downtrend is underway. Further rally is still possible in a couple of weeks and target would be at 1.0000 area.

For long term analysis, USDCHF is in consolidation of downtrend. Bounce to 1.0000 area to reach next cycle top on weekly chart is possible in next several weeks.

usdchf daily chart