USDCHF may be forming a cycle bottom at 0.9725

By @ibtimes on

USDCHF may be forming a cycle bottom at 0.9725 level on daily chart. Further rise towards 1.0066 would likely be seen next week, a break above this level will confirm the cycle bottom and indicate that the uptrend from 0.9463 has resumed, then next target would be at 1.3500 area. Support is at 0.9725, only break below this level could trigger another fall to 0.9650 area.

For long term analysis, USDCHF has formed a cycle bottom at 0.9463 level on weekly chart. Bounce to 1.1000 is expected in next several weeks.

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