USDCHF Analysis – Sep 24, 2008

USDCHF broke below 1.0842 key support, suggesting that the rise from 1.0010 has completed. Deeper decline is still possible to 1.0500 zone in next few days. Initial resistance is at 1.1000, as long as this level holds, we’d expect down trend to continue.

For long term analysis, USDCHF is in long term bullish movement. Further rise is still possible to 1.2000 zone after consolidation.

usdchf daily chart