USDCHF Daily Analysis – August 5, 2014

USDCHF remains in uptrend from 0.8855, the fall from 0.9105 could be treated as consolidation of the uptrend. Range trading between 0.9000 and 0.9105 is possible in a couple of days. Support is at 0.9000, as long as this level holds, the uptrend could be expected to continue, and next target would be at 0.9200 area. On the downside, a breakdown below 0.9000 support will indicate that the uptrend had completed at 0.9105 already, then deeper decline to 0.8900 area could be seen.

usdchf chart