USDCHF Analysis – May 16, 2010

USDCHF continues its upward movement from 1.0434 and the rise extends to as high as 1.1335 level. Support is at 1.1200, as long as this level holds, further rally is still possible and next target would be at 1.1400 followed by 1.1600.

For long term analysis, USDCHF’s uptrend from 0.9917 has resumed. Further rise could be seen to 1.1400 or even 1.1800 area.

usdchf daily chart