USDCHF’s downward movement from 0.9455 extends to as low as 0.9021. 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 continue, and next target would be at 0.8950 area. On the upside, a clear break above the trend line resistance will indicate that consolidation of the downtrend is underway, then range trading between 0.9021 and 0.9137 could be seen.
Provided by ForexCycle.com
