USDCHF Daily Analysis – August 28, 2014

USDCHF broke below 0.9135 support, indicating that the uptrend from 0.8997 had completed at 0.9184 already. Deeper decline could be expected, and the target would be at 0.9080 area. However, as long as 0.9080 support holds, the fall would possibly be consolidation of the longer term uptrend from 0.8855 (Jul 1 low), another rise towards 0.9400 is still possible. Resistance is at 0.9184, a break above this level could signal resumption of the uptrend.

usdchf chart