USDCHF Analysis – Sep 14, 2008

USDCHF’s up trend remains and the rise from 1.0010 extends to as high as 1.1416 level. Further rise is still possible to test 1.1595 (Dec 20, 2007 high) in a couple of weeks. Initial support is now located at 1.1080, and key support is at 1.0842. As long as 1.1080 support holds, we’d expect up trend to continue.

For long term analysis, USDCHF is in bullish movement. Further rise could be seen to 1.2000 zone in a couple of weeks.

usdchf daily chart