USDCHF breaks below 1.0729 previous low support and reaches as low as 1.0704 level. Deeper decline to 1.0500 area to reach the next cycle bottom on daily chart is still possible. Near term resistance is at 1.0950, as long as this resistance holds, down trend will continue.
For long term analysis, USDCHF is in long term down trend. Further fall towards 1.0000 area to reach the next cycle bottom on weekly chart is expected.
