USDCHF Analysis. Feb 6, 2008

USDCHF rebounded sharply from 1.0729 level. Further rise towards 1.1150 area to reach the next cycle top on daily chart is still possible in the next several days, and the next cycle top is nearing. 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