USDCHF Analysis. Feb 2, 2008

USDCHF broke below 1.0836 previous low and rebounded from 1.9729 level. Further rise towards 1.1050 area to reach the next cycle top on daily chart is still possible next week. However, the rise from 1.0729 is treated as consolidation to the down trend, decline towards 1.0400 area is expected after consolidation, and a break below 1.0729 level 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