USDCHF Weekly Analysis – May 25, 2014

USDCHF is testing the resistance of the upward price channel on daily chart. A clear break above the upper line of the channel will indicate that the downtrend from 0.9751 (Jul 9, 2013 high) had completed at 0.8699 already, then further rise to 0.9200 area could be seen. On the downside, as long s the channel resistance holds, the price action from 0.8699 could be treated as consolidation of the downtrend 0.9751, one more fall to 0.8300 area is still possible after consolidation.

usdchf chart