USDCHF’s down trend remains and drops sharply to as low as 0.9971 level. Further fall to 0.9800 area to reach the next cycle bottom is still possible next week. Key resistance is now at 1.0352, a break of this level will confirm the cycle bottom, and consolidation to the long term down trend could then be seen.
For long term analysis, USDCHF is in long term down trend. Further fall towards 0.9500 area to reach the next cycle bottom on weekly chart is expected.