USDCHF Weekly Analysis – January 18, 2014

USDCHF stayed in a trading range between 0.8799 and 0.9249. As long as 0.9249 key resistance holds, the price action in the range could be treated as consolidation of the downtrend from 0.9751, one more fall towards 0.8500 could be expected after consolidation. On the other side, a break above 0.9249 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9838 (May 22 high) is underway, then further rise to 0.9400 area could be seen.

usdchf chart