USDCHF Analysis – February 13, 2010

USDCHF’s uptrend extended further to as high as 1.0827 level. Further rally is still possible next week and next target would be at 1.0900 area. However, a breakdown below 1.0608 will indicate that a cycle top has been formed on daily chart and the uptrend from 1.0132 has completed, then pullback towards the uptrend line from 1.9917 to 1.0132 could be seen to follow.

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