USDCHF Analysis – Jul 9, 2008

USDCHF formed a cycle bottom at 1.0111 on daily chart. Further rise to test 1.0539 previous high resistance could be seen in next few days. Rise above this level will signal resumption of long term up trend, and the next target would be at 1.1100.

For long term analysis, USDCHF formed a long term cycle top at 1.0623 on weekly chart. Consolidation in a range between 0.9634 and 1.0623 is expected. Up trend will resume before breaking below 0.9634 level.

usdchf daily chart