USDCHF Analysis – Feb 14, 2009

USDCHF remains in medium term uptrend, and the rise from 1.0366 extends to 1.1779 level. Near term support is now located at 1.1399, as long as this level holds, we’d expect the medium term uptrend to continue. However, below 1.1399 level will indicate that the rise from 1.0366 has completed and the following downtrend will take price back to 1.1000 zone.

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