USDCHF Weekly Analysis - January 25, 2014

Long Term Forex Analysis | by ForexCycle.com | Saturday, 25 January 2014 05:57 UTC
Being contained by the upper line of the price channel on daily chart, USDCHF dropped down from 0.9156. The fall would possibly be resumption of the downtrend from 0.9751. Further decline to test 0.8799 previous low support would likely be seen next week, a breakdown below this level will confirm the resumption of the downtrend, then next target would be at 0.8500 area. Resistance is now at 0.9156, only break above this level will indicate that lengthier consolidation of the longer term downtrend from 0.9838 (May 22 high) is underway, then the following upward move could bring price to 0.9400 zone.

usdchf chart

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