USDCHF stays below a downward trend line
January 30, 2013 3:09 am in Forex Analysis
USDCHF stays below a downward trend line on 4-hour chart, and remains in downtrend from 0.9388, and the fall extends to as low as 0.9193. Resistance is at the trend line, as long as the trend line resistance holds, further decline is still possible after a minor consolidation, and next target would be at 0.9100 area. On the upside, a clear break above the trend line resistance will indicate that a cycle bottom is being formed and consolidation of the downtrend is underway.