USD/CHF analysis (July 05 2011)

The pair remains well bid after its sharp bounce on top of its historical low at 0,8270. Next key resistance is given at 0,8550.


USD/CHF: daily chart

A break above 0,8550 would accelerate to the upside will a first objective at 0,8750. In this event, we will start to consider a major shift in the trend for the coming weeks and months.

A break back below 0,84 would concern though and expose a new test of the historical low.

It is worth noting that the pair will need a strong US Dollar to confirm a bullish outlook over the middle term.