USDCHF Analysis – Mar 19, 2008

USDCHF is forming a cycle bottom at 0.9634 on daily chart. Consolidation could be seen in a range between 0.9634 and 1.0352 before breaking below 0.9634 level. Down trend will resume after consolidation, and a break below 0.9634 will signal the resumption of the down trend.

For long term analysis, USDCHF is in long term down trend. As long as 1.0750 resistance holds, deeper decline towards 0.9000 area is in favor.

usdchf daily chart