USDCHF Weekly Analysis – November 16, 2014

USDCHF remains in uptrend from 0.8703, the fall from 0.9741 is likely consolidation o f the uptrend. Support is located as the bottom of the price channel on daily chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.0000 area. On the downside, a clear break below the channel support will indicate that lengthier consolidation for the uptrend is needed, then deeper decline to 0.9400 – 0.9450 area could be seen.

usdchf chart