USDCHF Analysis – December 24, 2011

USDCHF remains in uptrend from 0.8569, the pullback from 0.9546 is likely consolidation of uptrend. Initial support is at 0.9240, as long as this level holds, we’d expect uptrend to resume, and another rise towards 1.0000 is possible, only a breakdown below 0.9240 could trigger another fall towards 0.8569.

For long term analysis, USDCHF remains in uptrend from 0.7067. Further rise towards 1.0000 could be seen over next several months.

usdchf daily chart