USDCHF Analysis – March 3, 2012

After touching the lower line of the price channel on daily chart, USDCHF rebounded from 0.8931, suggesting that the downward movement from 0.9594 is complete. Further rally is still possible next week, and next target would be at 0.9500 area. Support is at 0.8931, only break below this level could trigger another fall to test 0.8569 support.

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