USDCHF Analysis – June 2, 2012

USDCHF’s upward movement from 0.9043 extends to as high as 0.9769. Further rise is still possible next week, and next target would be at 0.9900 area. Support is at 0.9500, only break below this level could signal completion of the uptrend.

For long term analysis, USDCHF has formed a cycle bottom at 0.8931 on weekly chart. Further rise towards 1.0000 would likely be seen over next several weeks.

usdchf daily chart