USDCHF Weekly Analysis - April 27, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 27 April 2014 07:21 UTC
USDCHF stays in a downward price channel on daily chart, and remains in downtrend from 0.9751 (Jul 9, 2013 high). Resistance is located at the upper line of the channel, as long as the channel resistance holds, the price action from 0.8699 could be treated as consolidation of the downtrend, one more fall to 0.8300 area to complete the consolidation is still possible. One the upside, a clear break above the channel resistance will indicate that the downtrend had completed at 0.8699 already, then the following upward movement could bring price to 0.9500 area.

usdchf chart

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