USDCHF Daily Analysis – February 21, 2014

USDCHF remains in downtrend from 0.9081, the rise from 0.8856 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall to 0.8500 area is still possible. Only a clear break above the channel resistance could signal completion of the downtrend.

usdchf chart