USDCHF Analysis – August 29, 2010

USDCHF remains in downward move from 1.1730. Resistance is at 1.0450, as long as this level holds, downtrend is expected to continue and next target would be at 1.0100 area. Key resistance is at 1.0675, only break above this level could indicate that the fall from 1.1730 is complete.

For long term analysis, USDCHF formed a cycle top at 1.1730 level on weekly chart. Further fall to 1.0000 to reach next cycle bottom on weekly chart is expected in a couple of weeks.

usdchf daily chart