USDCHF Analysis – April 21, 2012

USDCHF continues its sideways movement in a range between 0.8931 and 0.9333. Key support is at 0.8931, a breakdown below this level will trigger another fall towards 0.8600. On the other side, a break above 0.9333 could signal resumption of the longer term uptrend from 0.7067, then further rise to 1.0000 could be seen.

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

usdchf daily chart