USDCHF Daily Analysis – August 19, 2014

USDCHF stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9114. Resistance is located at the upper line of the channel. As long as the channel resistance holds, the rise from 0.8997 could be treated as consolidation of the downtrend, one more fall to 0.8900 area is still possible. On the upside, a clear break above the channel resistance will indicate that the downward movement had completed at 0.8997 already, then further rise towards 0.9200 could be seen.

usdchf chart