USDCHF Analysis – January 28, 2012

USDCHF broke below 0.9244 key support, suggesting that a cycle top has been formed at 0.9594 on daily chart, and the rise from 0.8569 has completed. Further decline is expected in a couple of weeks, and the first target would be at the lower line of the price channel.

For long term analysis, USDCHF remains in uptrend from 0.7067. Further rise towards 1.0000 could be seen over next several months.

usdchf daily chart