USDCHF Analysis – Jan 20, 2009

USDCHF rise above 1.1277 resistance, signifying further rally towards 1.1500 zone. Initial support is now at 1.1100 and key support is located at 1.0864, only break below this level will indicate that the rebound form 1.0366 has completed.

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