USDCHF Daily Analysis – February 12, 2014

USDCHF continued its downward movement from 0.9081, and the fall extended to as low as 0.8940. Resistance is at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend will continue, and next target would be at 0.8900 area. Only a clear break above the channel resistance could signal completion of the downtrend.

usdchf chart