USDCHF Analysis - August 18, 2012
Long Term Forex Analysis | by ForexCycle.com | Saturday, 18 August 2012 04:20 UTCUSDCHF stays in a upward price channel on daily chart, and remains in uptrend from 0.8931, the fall from 0.9971 is treated as consolidation of the uptrend. Support is at the lower line of the channel, uptrend could be expected to resume after touching the channel support, and one more rise to 1.0200 would likely be seen.
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.
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