USDCHF’s downward movement from 0.9455 extends to as low as 0.8967. Initial resistance is 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 0.8900 area. Key resistance is now at 0.9077, only break above this level could indicate that consolidation of the downtrend is underway, then the following upward movement could bring price back to 0.9200 – 0.9250 area.
Provided by ForexCycle.com