USDCHF Daily Analysis – February 24, 2014

USDCHF stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9081, the rise from 0.8856 could be treated as consolidation of the downtrend. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.8500 area. Only a clear break above the channel resistance could signal completion of the downtrend.

usdchf chart