USDCHF Analysis – January 1, 2011

USDCHF broke below 0.9463 previous low, suggesting that the downtrend from 1.1730 has resumed. Deeper decline is still possible next week and next target would be at 0.9000 zone. Resistance is at 0.9650, as long as this level holds, downtrend from 1.0066 will continue.

For long term analysis, USDCHF is back to long term downtrend from 1.1730, further fall to 0.8000 is expected in next several weeks.

usdchf daily chart
usdchf weekly chart