USDCHF continued its downward move from 0.9774, and the fall extended to as low as 0.8318. Further fall could be expected in a couple of weeks, the next target would be at 0.8000 area. Resistance remains at the downtrend line from 0.9774 to 0.9339, only a clear break above the trend line resistance could indicate that the fall from 0.9774 is complete.
For long term analysis, USDCHF is in downtrend from 1.1730, further decline to 0.8000 area to reach next cycle bottom on weekly is expected.
