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USDCHF Analysis - July 15, 2012

Long Term Forex Analysis | by ForexCycle.com | Sunday, 15 July 2012 01:14 UTC
USDCHF's uptrend from 0.8931 extends to as high as 0.9872. The uptrend could be expected to continue over the next several days, and next target would be at 1.0000. Support is now at 0.9700, only break below this level could indicate that a cycle top has been formed on daily chart, and lengthier consolidation of the uptrend is underway, then deeper decline to test 0.9421 key support could be seen.

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

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