USDCHF Analysis – Jun 18, 2008

USDCHF formed a cycle bottom at 1.0147 on daily chart. The rise from 1.0147 could possibly be resumption of up trend. Further rally to 1.0800 area is possible in next few day. Initial support is at 1.0300 and key support is at 1.0147, only break of the key support will signal resumption of down trend.

For long term analysis, USDCHF formed a long term cycle bottom at 0.9634 level on weekly chart. Further rise to 1.1200 area is now in favor.

usdchf daily chart