USDCHF Analysis – July 22, 2012

USDCHF’s uptrend from 0.9421 extends to as high as 0.9886. Further rise could be expected over the next several days, and next target would be at 1.0000. Key support is at 0.9740, 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 1.0500 would likely be seen over next several weeks.

usdchf daily chart