USDCHF Analysis – Mar 9, 2008

USDCHF’s down trend extended to as low as 1.0132. Further fall to test 1.0000 support is still possible. However, the next cycle bottom is nearing, key resistance is at 1.0500, a break of this level will confirm the cycle bottom and rebound to 1.0700 area is expected to follow.

For long term analysis, USDCHF is in long term down trend. Further fall towards 1.0000 area to reach the next cycle bottom on weekly chart is expected.

usdchf daily chart