USDCHF bounced strongly from 0.7067, suggesting that a cycle bottom has been formed on daily chart. Further rally could be expected in a couple of weeks, and target would be at the downtrend line. Key support is now at 0.7067, only break below this level could signal resumption of downtrend.
For long term analysis, USDCHF is forming a cycle bottom at 0.7067 on weekly chart, range trading between 0.7067 and 0.9300 is expected in next several months.
