USDCHF Daily Analysis – July 8, 2014

USDCHF remains in uptrend from 0.8855, the fall from 0.8958 is likely consolidation of the uptrend. Support is at 0.8900, as long as this level holds, the uptrend could be expected to resume, and further rise to test 0.9036 resistance is still possible after consolidation. On the downside, a breakdown below 0.8900 support will signal completion of the uptrend, then another fall towards 0.8800 could be seen.

usdchf chart