USDCHF Analysis – April 6, 2013

USDCHF breaks below 0.9352 support, suggesting that the upward movement from 0.9021 had completed at 0.9567 already. Further decline could be expected next week, and next target would be at 0.9100 area. Resistance is at 0.9567, only break above this level could trigger another rise to 0.9800 zone.

For long term analysis, USDCHF may be forming a cycle top at 0.9567 on week chart. Further decline to 0.8500 area could be expected over the next several weeks.

usdchf daily chart
usdchf weekly chart