USDCHF Daily Analysis – May 5, 2014

USDCHF continued its sideways movement in a range between 0.8743 and 0.8861. As long as 0.8861 key resistance holds, the sideways movement could be treated as consolidation of the downtrend from 0.8952, a breakdown below 0.8743 support will signal resumption of the downtrend, then the following downward movement could bring price to 0.8300 zone.

usdchf chart