USDCHF’s downward movement from 0.9012 extended to as low as 0.8861. Further decline is still possible after a minor consolidation, and next target would be at 0.8800 area. Near term resistance is at 0.8900, and the key resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
