USDCHF Daily Analysis – May 29, 2014

USDCHF’s upward movement from 0.8702 extended to as high as 0.8989. Support is now at 0.8937, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9050 area. On the downside, a breakdown below 0.8937 support will indicate that the uptrend from 0.8702 had completed, then the following downward movement could bring price back to 0.8500 zone.

usdchf chart