USDCHF Analysis – Apr 23, 2008

USDCHF is forming a sideways consolidation. Deeper decline to test the price channel support could be seen. As long as 0.9870 support holds, we’d expect up trend to resume and further rise towards 1.0500 area to reach the next cycle top on daily chart is still possible.

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