USDCHF dropped sharply from 1.0066. Deeper decline to 0.9600-0.9650 area to reach next cycle bottom on daily chart is expected next week and the next cycle bottom is nearing. As long as 0.9463 key support holds, the price action from 0.9971 is treated as consolidation of uptrend, another rise to 1.0500 is still possible.
For long term analysis, USDCHF has formed a cycle bottom at 0.9463 level on weekly chart. Bounce to 1.1000 is expected in next several weeks.
