USDCHF Analysis – Sep 27, 2008

USDCHF pulled back sharply from 1.1416 and reached as low as 1.0693 level. Initial resistance is located at 1.1055, as long as this level holds, we’d expect down trend to continue and deeper decline is still possible to 1.0500 zone.

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