USDCHF Weekly Analysis – June 22, 2014

USDCHF remains in downtrend from 0.9838 (May 22, 2013 high), the price action from 0.8699 could be treated as consolidation of the downtrend. Key resistance is at 0.9156, as long as this level holds, the downtrend could be expected to resume, and another fall to 0.8300 area is still possible. On the upside, a break above 0.9156 will signal completion of the downtrend, then further rise to 0.9400 area could be seen.

usdchf chart