USDCHF Analysis – September 26, 2009

USDCHF stays below 1.0422 resistance and remains in downtrend from 1.1021. Further fall is still in favor next week and target would be at 1.0100 zone. Near term resistance is at 1.0422 followed by the falling trend line on daily chart. As long as 1.0422 level holds, we’d expect downtrend to continue.

For long term analysis, USDCHF is in long term bearish movement from 1.1963, further fall is expected to 1.0000-1.0100 area.

usdchf daily chart