USDCHF Analysis – March 27, 2010

USDCHF stays above the rising trend line from 0.9917 to 1.0132 and remains in uptrend from 0.9917. As long as the trend line support holds, another rise towards 1.1000 is possible. Key support is now at 1.0506, a breakdown below this level will indicate that the rise from 0.9917 has completed at 1.0898 already, then the following downtrend could take price back to test 0.9917 support.

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