USDCHF Analysis – Oct 4, 2008

USDCHF is testing 1.1416 previous high resistance. Further rise could be seen to 1.1800 zone after consolidation, and a break of 1.1416 will confirm such case. Initial support is at 1.1055 and followed by the up trend line from 1.0010 to 1.0693, as long as 1.1055 support holds, we’d expect up 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