USDCHF Analysis – October 3, 2009

USDCHF stays below the falling trend line on daily chart and remains in downward trend from 1.1021, and the rebound from 1.0186 is more likely consolidation of downtrend. As long as the trend line resistance holds, we would expect downtrend to resume and deeper decline is still possible to 1.0000-1.0100 area.

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