USDCHF remains in uptrend from 1.0132 and the pullback from 1.0898 is more likely consolidation of uptrend. Range trading between 1.0608 and 1.0898 is expected next week. As long as 1.0608 support holds, one more rise towards 1.1000 is still possible. However, below 1.0608 key support will indicate that a cycle top has been formed at 1.0898 on daily chart and the rise from 1.0132 has completed.
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.
