USDCHF Daily Analysis – May 9, 2014

USDCHF failed to break below 0.8699 (Mar 13 low) support and rebounded from 0.8702, indicating that the downtrend from 0.8861 has completed. Further rise could be expected, and next target would be at 0.8900 area. Support is at 0.8750, as long as this level holds, the uptrend from 0.8702 will continue.

usdchf chart