USDCHF Analysis – March 10, 2013

USDCHF’s upward movement from 0.9021 extends to as high as 0.9552. Further rise could be expected after a minor consolidation, and next target would be at 0.9700 area. Key support is at the upward trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.

For long term analysis, USDCHF had formed a cycle bottom at 0.9021 on weekly chart. Further rise to 0.9700 could be expected over the next several weeks.

usdchf daily chart