USDCHF Weekly Analysis – July 5, 2014

USDCHF’s fall from 0.9036 reached 0.8855 only, the subsequent bounce is likely resumption of the uptrend from 0.8699. Further rise to test 0.9156 key resistance would likely be seen, a break above this level will confirm that the downtrend from 0.9838 (May 22, 2013 high) had completed at 0.8699 already, then the following upward movement could bring price to 1.1000 area. Support is at 0.8855, only break below this level could trigger another fall to test 0.8699 support.

usdchf chart