USDCHF Analysis – May 26, 2012

USDCHF breaks above 0.9594 previous high resistance, suggesting that the uptrend from 0.7067 (Aug 9, 2011 low) has resumed. Further rise could be expected in a couple of weeks, and next target would be at 0.9800 area. Key support is at 0.9350, only break below this level could trigger another fall to 0.9000 area.

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