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USDCHF Analysis - February 6, 2010 |
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Forex Market Analysis |
Written by ForexCycle.com |
Saturday, 06 February 2010 02:36 GMT
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USDCHF remains in uptrend from 1.0132 and the rise extends to as high as 1.0794 level. Further rally is still possible next week and target would be at 1.0850-1.0900 area. Support level is now at 1.0600, as long as this level holds, uptrend could be expected to continue.
For long term analysis, USDCHF has formed a cycle bottom at 0.9917 level on weekly chart. Bounce towards 1.1000 to reach next cycle top is expected.
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