USDCHF Weekly Analysis – July 13, 2014

USDCHF remains in long term downtrend from 0.9838 (May 22, 2013 high), the rise from 0.8699 is likely consolidation of the downtrend. Key resistance is now at 0.9036, as long as this level holds, the downtrend could be expected to resume, and another fall to 0.8300 area is still possible. However, a break above 0.9036 will signal completion of the downtrend, then the following upward movement could bring price to 1.0500 zone.

usdchf chart