USDCHF remains in downtrend from 0.9455, the rise from 0.9229 is likely consolidation of the downtrend. Resistance is now located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible. Key resistance is at 0.9340, only break above this level will signal completion of the downtrend, then another rise towards 0.9600 could be seen.
Provided by ForexCycle.com
