USDCHF Analysis – Feb 9, 2008

USDCHF is moving to the next cycle top on daily chart, further rise towards 1.1150 area is still possible next week, and the next cycle top is nearing. Key support is at 1.0729, a breakdown below this level will confirm the cycle top and signal the resumption of the down trend, further fall to 1.0500 area is then expected to follow.

For long term analysis, USDCHF is in long term down trend, further fall towards 0.9000 to reach the next cycle bottom on weekly chart is expected.

usdchf daily chart