USDCHF Analysis – December 12, 2009

USDCHF broke above 1.0337 key resistance, suggesting that the fall from 1.1021 has completed at 0.9917 already. Further rally is still possible next week and next target would be at 1.0600 area. Support is at 1.0200, only fall below this level could signal minor consolidation of uptrend.

For long term analysis, USDCHF has formed a cycle bottom at 0.9917 level on weekly chart. Bounce towards 1.0700 to reach next cycle top is expected.

usdchf daily chart

usdchf weekly chart