USDCHF Analysis – March 24, 2012

USDCHF is facing the support of the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend from 0.8931 could be expected to resume, and another rise towards 1.9594 previous high is still possible, only a clear break below the channel could trigger another fall to 0.8600 zone.

For long term analysis, USDCHF may be forming a cycle bottom at 0.8931 on weekly chart. Further rise towards 1.0000 could be seen over next several months.

usdchf daily chart