USDCHF Weekly Analysis – July 20, 2014

USDCHF is facing 0.9036 resistance, a break above this level will indicate that the downtrend from 0.9838 (May 22, 2013 high) had completed at 0.8699 already, then the following upward movement could bring price to 1.0500 area. However, as long as 0.9036 resistance holds, the rise from 0.8699 would possibly be consolidation of the downtrend, one more fall to 0.8300 area is still possible.

usdchf chart