USDCHF Analysis – Jan 27, 2009

USDCHF might be forming a cycle top at 1.1714 level on daily chart. Key support is at the lower border of the rising price channel. A break down below the channel support will confirm the cycle top, and then pullback could be seen to test 1.1108 level. Below this level will indicate that the rise from 1.1366 has terminated.

For long term analysis, USDCHF has formed a cycle bottom 1.0366 level on weekly chart. Consolidation in a range between 1.0366 and 1.2296 is expected in a couple of months.

usdchf daily chart