USDCHF Analysis – Sep 17, 2008

USDCHF pulled back from 1.1416 and is now in consolidation to up trend. Further rise is still possible to test 1.1595 (Dec 20, 2007 high) after consolidation and a break of 1.1416 will confirm such case. Initial support is at 1.1045 and key support is at 1.0842, only fall below 1.0842 level will signal reversal to up trend.

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