USDCHF Analysis – August 31, 2013

USDCHF remains in downtrend from 0.9751. As long as 0.9400 resistance holds, another fall to test 0.9130 support is possible, a breakdown below this level will signal resumption of the longer term downtrend from 0.9838, then further decline towards 0.8500 could be seen. On the upside, a break above 0.9400 resistance will indicate that lengthier sideways movement is underway, then further rise to 0.9650 area could be expected.

usdchf daily chart