USDCHF Weekly Analysis – June 14, 2014

USDCHF’s rise from 0.8699 extended to as high as 0.9036. Key resistance is at 0.9156, as long as this level holds, the rise could be treated as consolidation of the downtrend from 0.9838 (May 22, 2013 high), another fall to 0.8300 area to complete the downward movement is still possible. Only break above 0.9156 resistance could signal completion of the downtrend.

usdchf chart