USDCHF Daily Analysis – May 6, 2014

USDCHF is facing 0.8743 support, a breakdown below this level will signal resumption of the downtrend from 0.8952, then the following downward movement could bring price to 0.8300 area. However, as long as 0.8743 support holds, the sideways movement in a range between 0.8743 and 0.8861 could be expected to continue, and one more rise to test 0.8861 resistance is still possible.

usdchf chart