USDCHF Analysis – June 12, 2010

USDCHF broke below the rising price channel on daily chart, suggesting lengthier consolidation of uptrend from 0.9917 is underway. Rang trading between 1.1200 and 1.1730 is expected in a next several weeks. As long as 1.1200 support holds, we’d expect uptrend to resume and one more rise towards 1.2000 is still possible.

For long term analysis, USDCHF is in long term uptrend from 0.9917. Further rise would more likely be seen in next several weeks and target would be at 1.2000 area.

usdchf daily chart