USDCHF Daily Analysis – November 18, 2014

USDCHF stays below the downward trend line on 4-hour chart, and remains in downtrend from 0.9739, the rise from 0.9552 would possibly be consolidation of the downtrend. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 0.9500 area. Only a clear break above the trend line resistance will indicate that the downtrend had completed at 0.9552 already, then further rise to 1.0000 area could be seen.

usdchf chart