USDCHF Analysis – Mar 19, 2009

USDCHF breaks below 1.1430 key support, suggesting that a cycle top has been formed at 1.1963 level on daily chart and the medium term uptrend from 1.0366 has completed. Further fall is expected to 1.1000 zone in a couple of weeks. Key resistance is now at 1.1963, only rise above this level will take price back to test 1.2296 long term resistance.

For long term analysis, USDCHF has formed a cycle bottom 1.0366 level on weekly chart. Consolidation in a range between 1.0366 and 1.2296 is expected in a couple of months.

usdchf daily chart