USDCHF remains in downtrend from 1.1740. As long as the falling trend line on daily chart resistance holds, we’d expect the downtrend to continue and deeper decline is possible to 1.0500 level in a couple of weeks. Initial resistance remains at the falling trend line and key resistance is located at 1.1264, only break above this level will take price back to 1.1500 zone.
For long term analysis, USDCHF has formed a cycle bottom at 1.0366 level on weekly chart. Consolidation in a range between 1.0366 and 1.2296 is expected in a couple of months.
