Short Term Analysis - Apr 30, 2008

USDCHF traded in a narrow range between 1.0298 and 1.0430. further rally to 1.0600 area to reach the next short term cycle top is still in favor after consolidation, and a break of 1.0430 will signal the resumption of the up trend. Initial support is at 1.0298 and followed by 1.0165, as long as 1.0165 support holds, up trend will continue.