USDCHF Daily Analysis – March 13, 2014

USDCHF’s downward movement from 0.8895 extended to as low as 0.8734. Further decline could be expected, and next target would be at 0.8650 area. Initial resistance is at 0.8810, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.

usdchf chart