USDCHF Weekly Analysis – October 26, 2014

USDCHF failed to break below the support of the upward price channel on daily chart, indicating that the pair remains in uptrend from 0.8703, and the fall from 0.9687 could be treated as consolidation of the uptrend. Key support is at 0.9359, as long as this level holds, the uptrend could be expected to resume, and next target would be at 1.0000 area. On the downside, a breakdown below 0.9359 support will signal completion of the uptrend, then deeper decline to 0.9200 area could be seen.

usdchf chart