USDCHF Analysis – July 11, 2009

USDCHF is forming sideways consolidation in a range between 1.0590 and 1.1021. Further rally is expected after consolidation and target would be at 1.1200-1.1500 area. Key support is now at 1.0590, only fall below this level will indicate that the downtrend from 1.1963 has resumed.

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