USDCHF broke below 1.0729 previous low support and drops sharply to as low as 1.0400 level. Deeper decline to 1.0200 area to reach the next cycle bottom on daily chart is still possible. Near term resistance is now at 1.0650, as long as this resistance holds, down trend will continue.
For long term analysis, USDCHF is in long term down trend. Further fall towards 1.0000 area to reach the next cycle bottom on weekly chart is expected.
