USDCHF Daily Analysis – November 20, 2014

USDCHF’s downward movement from 0.9739 extended to as low as 0.9531. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 0.9500 area. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance will signal completion of the downtrend, then the following upward move could bring price to 1.0000 area.

usdchf chart