USDCHF: Challenging its declining trendline

EUR/USD Bouncing. EUR/USD has broken the support implied by its rising channel, invalidating the uptrend in place since February. The short-term technical structure is negative as long as prices remain below the resistance at 1.3845 (20/03/2014 high). Supports can be found at 1.3708 (05/03/2014 low) and 1.3643. Another resistance lies at 1.3880 (18/03/2014 low). In the medium-term, the break of the support at 1.3834 (11/03/2014 low, see also the rising channel) coupled with general overbought…

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