USDCHF Analysis – Jan 17, 2009

USDCHF breaks above 1.1277 resistance and reaches 1.1287 only. Pullback would more likely be seen to retest 1.0864 key support next week. A break down below this level will indicate that the rebound from 1.0366 has completed, and then deeper decline could be seen to 1.0000 zone.

For long term analysis, USDCHF has formed a cycle top at 1.2296 on weekly and monthly chart. Further fall to retest 0.9634 (Mar 17, 2008 low) support could be seen.

usdchf daily chart