USDCHF’s upward movement from 0.8569 extended to as high as 0.9148. Further rise towards 0.9314 is still possible next week. However, the rise is treated as correction of downtrend from 0.9314, another fall towards 0.7800 would likely be seen after correction.
For long term analysis, USDCHF had formed a cycle top at 0.9314 on weekly chart. Pullback to 0.7800 area is expected over the next several weeks.
