USDCHF Analysis – September 12, 2009

USDCHF broke below 1.0366 (Dec 29, 2008) support, deeper decline is now in favor and next target would be at 1.0200-1.0300 area. Near term resistance is at the falling trend line on daily chart, as long as the trend line resistance holds, we’d expect the downtrend to continue.

For long term analysis, USDCHF is in long term bearish movement from 1.1963, further fall is expected to 1.0200-1.0300 area.

usdchf daily chart