USDCHF failed to test 1.0590 previous low support and rebounds from 1.0622, suggesting that the pair has formed a cycle bottom at 1.0622 level on daily chart. Further rally is expected to test 1.1021 previous high resistance, a break above this level will take price to 1.1200 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.
