USDCHF Weekly Analysis – February 8, 2014

USDCHF 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 one more fall to 0.8500 area is still possible. Only a break above 0.9156 resistance will signal completion of the downtrend.

usdchf chart