USDCHF Daily Analysis – October 8, 2014

USDCHF broke below the upward trend line on 4-hour chart, deeper decline to test 0.9516 support is possible, a breakdown below this level will indicate that consolidation of the uptrend from 0.8997 (Aug 15 low) is underway, then the pair will find support around 0.9450. On the upside, as long as 0.9516 support holds, the uptrend from 0.9300 could be expected to resume, and next target would be at 0.9900 area.

usdchf chart