USDCHF Daily Analysis – December 18, 2013

USDCHF broke below 0.8829 support, and continues its downward movement from 0.9249 (Nov 7 high). Further decline could be expected, and next target would be at 0.8750 area. Initial resistance is at the upper line of the price channel on 4-hour chart, and the key resistance is at 0.8917, only break above this level could signal completion of the downtrend.

usdchf daily chart