USDCHF Analysis – Feb 28, 2009

USDCHF is forming a cycle top at 1.1883 on daily chart. Key support is now located at 1.1459, a break down below this level will confirm the cycle top, and then the fallowing pullback could take price back to 1.1000 level. Near term resistance is at 1.1883, only rise above this level will signal further rally to 1.2000 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