USDCHF Daily Analysis – August 7, 2014

USDCHF remains in uptrend from 0.8855, the price action in the range between 0.9040 and 0.9114 is likely consolidation of the uptrend. Support is at 0.9040, as long as this level holds, further rise could be expected, and next target would be at 0.9200 area. Only break below 0.9040 support will indicate that the uptrend had completed at 0.9114 already, then deeper decline to 0.8900 area could be seen.

usdchf chart