USDCHF Daily Analysis – July 3, 2014

USDCHF remains in downtrend from 0.9012, the rise from 0.8855 is likely consolidation of the downtrend. Resistance is at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.8800 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdchf chart