USDCHF Daily Analysis – May 30, 2014

USDCHF remains in uptrend from 0.8702, the fall from 0.8989 could be treated as consolidation of the uptrend. Support is at 0.8937, as long as this level holds, the uptrend could be expected to resume, and next target would be at 0.9050 area. However, a breakdown below 0.8937 support will indicate that the uptrend had completed at 0.8989 already, then the following downward movement could bring price back to 0.8500 zone.

usdchf chart