USDCHF’s downward movement from 0.9594 extended to as low as 0.9156. Resistance is now at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 0.9050 area. On the upside, a clear break above the trend line will indicate that a cycle bottom is being formed on 4-hour chart, then consolidation of downtrend could be seen to follow.
