USDCHF Analysis – Feb 13, 2008

USDCHF might be forming a cycle top at 1.1102 level. Pullback to test the previous low support at 1.0729 is expected. A break of 1.0860 key support will confirm the cycle top. Near term resistance is at 1.1102, only break of this level will indicate that medium-term up trend is underway, and will delay the resumption of the down trend.

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