USDCHF Weekly Analysis - February 2, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 02 February 2014 05:02 UTC
USDCHF stays within a downward price channel on daily chart, and remains in downtrend from 0.9751, the price action from 0.8890 could be treated as consolidation of the downtrend. Key resistance is at 0.9156, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.8500 is still possible after consolidation. On the upside, a break above 0.9156 resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9838 (May 22 high) is underway, then the target would be at 0.9400 area.

usdchf chart

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