USDCHF Analysis – April 21, 2013

USDCHF is in downtrend from 0.9567, the rise from 0.9206 is likely consolidation of the downtrend. Resistance is at 0.9400, as long as this level holds, another fall could be expected after consolidation, and next target would be at 0.9100 area.

For long term analysis, USDCHF had formed 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