USDCHF Daily Analysis – March 18, 2014

USDCHF remains in downtrend from 0.9081, the rise from 0.8699 is likely consolidation of the downtrend. Key resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to resume, and next target would be at 0.8600 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdchf chart