USDCHF Analysis – June 10, 2009

USDCHF is forming a cycle top at 1.0986 level on daily chart. Key support is now located at 1.0590, a break down below this level is needed to confirm the cycle top. Near term resistance is at 1.0986, only break above this level will signal further rally to 1.1200 zone.

For long term analysis, USDCHF has formed a cycle bottom at 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