After touching the lower border of the falling price channel on daily chart, USDCHF rebounded from 1.0032, suggesting a cycle bottom is being formed, further rise towards 1.0452 key resistance is expected, a break above this level will indicate that the downtrend from 1.1963 (Mar 12 high) has completed at 1.0032 level already. However, as long as the pair stays in the price channel, another fall towards 0.9800 is still possible.
For long term analysis, USDCHF is in long term bearish movement from 1.1963, further fall is still possible to 0.9800 level.
