Daily Forex Analysis ? February 24, 2011

USDCHF Analysis. USDCHF continued its downward movement from 0.9774 and broke below 0.9300 (Dec 31, 2010 low) support, suggesting that the long term downtrend from 1.1730 (Jun 1, 2010 high) has resumed. Resistance is at the falling trend line on 4-hour chart, now at 0.9390, as long as the trend line resistance holds, downtrend could [...]

Source: http://blog.forexcycle.com/5955/daily-forex-analysis-february-24-2011/

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