USDCHF Daily Analysis – November 5, 2014

USDCHF remains in uptrend from 0.9370, the fall from 0.9689 is likely consolidation of the uptrend. Support is located at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 0.9900 area. Only a clear break below the channel support could indicate that the uptrend had completed at 0.9689 already, then deeper decline to 0.9400 area could be seen.

usdchf chart