USDCHF Daily Analysis – March 7, 2014

After touching the downward trend line on 4-hour chart, USDCHF pulled back to 0.8794. The fall from 0.8895 is likely resumption of the downtrend from 0.9081. Deeper decline could be expected, and next target would be at 0.8700 area. Key resistance is now at 0.8895, only break above this level could signal completion of the downtrend.

usdchf chart