USDCHF Analysis – Jun 7, 2008

USDCHF broke below 1.0214 support and down trend has resumed. Deeper decline to test 0.9870 support is expected. Initial resistance is at 1.0526 and key resistance is at 1.0623, only break above 1.0623 will signal resumption of up trend.

For long term analysis, USDCHF formed a long term cycle bottom at 0.9634 level on weekly chart. Sideways consolidation in a range between 0.9634 and 1.0623 is expected.

usdchf daily chart