USDCHF Daily Analysis – July 9, 2014

USDCHF’s fall from 0.8958 extended to as low as 0.8920. Support is at 0.8900, as long as this level holds, the fall could be treated as consolidation of the uptrend from 0.8855, one more rise to test 0.9036 resistance is still possible after consolidation. On the downside, a breakdown below 0.8900 support will indicate that the uptrend had completed at 0.8958 already, then next target would be at 0.8800 area.

usdchf chart