USDCHF Analysis – April 3, 2010

USDCHF broke below 1.0506 key support, suggesting that the uptrend from 0.9917 has completed at 1.0898 already. Drop to 1.0100-1.0200 area would more likely be seen in a couple of weeks. Resistance is now at 1.0750, as long as this level holds, downtrend will continue.

For long term analysis, USDCHF has formed a cycle top at 1.0898 level on weekly chart. Another fall towards 0.9917 is expected.

usdchf daily chart

usdchf weekly chart