USDCHF’s downward movement extended to as low as 1.0394 level. Resistance is at 1.0675, as long as this level holds, downtrend could be expected to continue, and another fall to 1.0200-1.0300 would more likely be seen. However, above 1.0675 could indicate that the fall from 1.1730 is complete, then bounce to 1.1200-1.2300 area could be seen.
For long term analysis, USDCHF formed a cycle top at 1.1730 level on weekly chart. Further fall to 1.0200 is expected in next several weeks.
