USDCHF Analysis. Jan 9, 2008

USDCHF might be forming a cycle bottom at 1.1017 on daily chart. Further rebound towards 1.1595 is still possible. Near term support is at 1.1017, as long as this support holds, we’d expect rebound to continue.

For long term analysis, the pair formed a long term cycle bottom at 1.0890 on weekly chart, and as long as 1.0890 support holds, rise towards 1.2900 area is in favor.

usdchf daily chart