USDCHF remains in uptrend from 1.0132 and the rise extends further to as high as 1.0898 level. Further rally is still possible next week and next target would be at 1.1000 area. However, next cycle top is nearing, a breakdown below 1.0608 support will indicate that a cycle top has been formed on daily chart and the rise from 1.0132 has completed, then the following pullback could take price back to test the support of the rising trend line from 0.9917 to 1.0132.
For long term analysis, USDCHF has formed a cycle bottom at 0.9917 level on weekly chart. Bounce towards 1.1000 to reach next cycle top is expected.
