USDCHF Analysis – June 26, 2010

USDCHF continues its downward movement and the fall from 1.1730 extends to as low as 1.0921 level. Resistance is now at 1.1140, as long as this level holds, downtrend will continue, however, a break above this level will indicate that the fall from 1.1730 is complete, then the following rebound could bring price back to 1.1300 area.

For long term analysis, USDCHF is forming a cycle top at 1.1730 level on weekly chart. Key support is at 1.0850, a break below this level will confirm the cycle top.

usdchf daily chart