USDCHF Analysis – April 1, 2012

USDCHF is facing the support of the lower border of the price channel on daily chart. A clear break below the channel could trigger another fall towards 0.8569. On the other side, as long as 0.8931 key support holds, uptrend could be expected to resume, and another rise towards 0.9594 previous high is still possible.

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