USDCHF Analysis – January 30, 2010

As expected, USDCHF broke above 1.0507 resistance and reached as high as 1.0640 level. Further rally is still in favor next week and next target would be at 1.0800 area. Support is at 1.0450, as long as this level holds, uptrend will continue.

For long term analysis, USDCHF has formed a cycle bottom at 0.9917 level on weekly chart. Bounce towards 1.1000 to reach next cycle top is expected.

usdchf daily chart