USDCHF Analysis – Nov 8, 2008

USDCHF remains in up trend. Further rise could be seen to 1.2000 zone next week. Initial support is located at 1.1549 level. As long as this level holds, we’d expect up trend to continue. However, a break down below this level will signal consolidation to up trend.

For long term analysis, USDCHF remains in long term bullish movement. Further rise is still possible to 1.2500 zone in next several weeks.

usdchf daily chart