USDCHF Daily Analysis – March 4, 2014

USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9081, the rise from 0.8777 could be treated as consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to continue after consolidation, and next target would be at 0.8700 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdchf chart