USDCHF Analysis – Sep 20, 2008

USDCHF formed a cycle top at 1.1416 on daily chart. Consolidation to up trend could be seen and pullback is expected to 1.0600-700 area. Key resistance is at 1.1416, only rise above this level will signal further rally towards 1.1595 (Dec 20, 2007 high).

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