USDCHF Analysis – October 1, 2011

USDCHF stays above a uptrend line on daily chart, and remains in uptrend from 0.7067. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 0.9500 area, only a clear break below the trend line could indicate that the rise from 0.7067 is complete.

For long term analysis, USDCHF had formed a cycle bottom at 0.7067 on weekly chart, range trading between 0.7067 and 1.0000 is expected in next several months.

usdchf daily chart