USDCHF Analysis – Oct 18, 2008

USDCHF breaks above 1.1486 resistance and pulls back from 1.1488 level. Further rise is still possible to 1.1700 zone next week. Initial support is located at 1.1128, and followed by the up trend line 1.0010 to 1.0693, now at 1.0950 level.

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