USDCHF Weekly Analysis – December 8, 2013

USDCHF is facing 0.8890 support, a breakdown below this level will signal resumption of the downtrend from 0.9751, then next target would be at 0.8500 area. Resistance is at the upper line of the downward price channel on daily chart, only a clear break above the channel resistance could signal completion of the downtrend.

usdchf daily chart