USDCHF Analysis – Mar 7, 2009

USDCHF consolidates above 1.1459 key support. Below this level will indicate that a cycle top has been formed at 1.1883 level on daily chart, and the medium uptrend from 1.0366 has completed. 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