USDCHF Daily Analysis – March 5, 2014

USDCHF is facing the resistance of the downward trend line on 4-hour chart. As long as the trend line resistance holds, the rise from 0.8777 could be treated as consolidation of the downtrend from 0.9081, another fall towards 0.8500 could be expected after consolidation. However, a clear break above the trend line resistance will signal completion of the downtrend, then the pair will find resistance around 0.8950.

usdchf chart