USDCHF Analysis. Jan 30, 2008

No changed in our view, USDCHF formed a cycle bottom at 1.0836 on daily chart. Consolidation to the down trend may be expected in the next several days, and further rise above 1.1120 previous high to reach the next cycle top on daily chart is still in favor. Down trend will resume after consolidation, and a breakdown below 1.0836 will signal the resumption of the down trend.

For long term analysis, USDCHF is in long term down trend, further fall towards 0.9000 to reach the next cycle bottom on weekly chart is expected.

usdchf daily chart