USDCHF Analysis – August 3, 2013

USDCHF is facing 0.9130 support, a breakdown below this level will indicate that the downtrend from 0.9838 has resumed, then next target would be at 0.8500 area. On the upside, as long as 0.9130 support holds, the sideways movement in a range between 0.9130 and 0.9838 could be expected to continue, and another rise to 0.9650 area is still possible.

usdchf daily chart