USDCHF Analysis – September 24, 2011

USDCHF’s upward movement from 0.7067 extended to as high as 0.9181. Support remains at the uptrend line on daily chart, as long as the trend line support holds, uptrend could be expected to continue, 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