USDCHF Daily Analysis – May 16, 2014

USDCHF’s upward movement from 0.8702 extended to as high as 0.8959. Further rise is still possible, and next target would be at 0.9000 area. Support is at 0.8880, only break below this level will indicate that consolidation of the uptrend is underway, then deeper decline to 0.8830 area could be seen.

usdchf chart