USDCHF Analysis – June 15, 2013

USDCHF breaks below 0.9206 support, suggesting that the upward movement from 0.9021 had completed at 0.9838 already. The pair is now in downtrend from 0.9838, further decline could be expected after a minor consolidation, and next target would be at 0.9000 area. Resistance is at 0.9425, as long as this level holds, the downtrend will continue.

For long term analysis, USDCHF is in downtrend from 0.9971 (Jul 24, 2012 high). Further decline to 0.8500 area could be expected over the next several weeks.

usdchf daily chart