USDCHF’s downtrend from 0.9774 extended to as low as 0.7580. Further fall is still possible next week and next target would be at 0.7200 area. Resistance remains at the downtrend line on 4-hour chart, only a clear break above the trend line could indicate that the fall is complete.
For long term analysis, USDCHF is in downtrend from 1.1730, further decline to 0.7000 area to reach next cycle bottom on weekly is expected.
