USDCHF Analysis – September 10, 2011

USDCHF broke above 0.8240 resistance and reached as high as 0.8863, suggesting that the uptrend from 0.7067 has resumed. Further rise could be seen after a minor consolidation, and next target would be at 0.9500 area.

For long term analysis, USDCHF had formed a cycle bottom at 0.7067 on weekly chart, range trading between 0.7067 and 1.0000 is expected in next several months.

usdchf daily chart