USDCHF’s uptrend from 1.0366 extends to 1.1714 level. Further rise is still possible to 1.1800 zone next week. However, the next cycle top on daily chart is nearing, the pair may be topping at 1.1714 level. Key support is now at the lower border of the price channel on daily chart. A break below this level will confirm the cycle top, and the following downtrend will take price back to 1.0700 zone.
For long term analysis, USDCHF has formed a cycle bottom 1.0366 level on weekly chart. Consolidation in a range between 1.0366 and 1.2296 is expected in a couple of months.
