USDCHF Analysis – Jun 28, 2008

USDCHF broke below the up trend line from 0.9634 to 1.0147. Deeper decline is possible to 1.0000 area in a couple of weeks. Key resistance is at 1.0539, only break of this level will signal resumption of long term up trend.

For long term analysis, USDCHF is forming a cycle top at 1.0623 on weekly chart. Key support is located at 1.0147, a break of this level will confirm the cycle top.

usdchf daily chart