USDCHF Analysis – Jul 2, 2008

USDCHF broke below 1.0147 support and reached 1.0129 level. Deeper decline could be seen to 1.0000-50 area. Key resistance is at 1.0539, only break of this level will signal resumption of long term up trend.

For long term analysis, USDCHF broke below 1.0147 key support, suggesting a long term cycle top has been formed at 1.0623 on weekly chart. Deeper decline is now expected to follow.

usdchf daily chart

usdchf weekly chart