USDCHF Analysis – October 17, 2009

USDCHF stays in the falling price channel and remains in downtrend. As long as the channel resistance holds, we’d expect downtrend to continue and deeper decline towards 1.0000 is possible in a couple of weeks. Critical resistance is now located at 1.0452, a break above this level will indicate that the fall from 1.1963 (Mar 12 high) has completed.

For long term analysis, USDCHF is in long term bearish movement from 1.1963, further fall is still possible to 1.0000 area.

usdchf daily chart