USDCHF is now facing the resistance of the downtrend line on daily chart, pullback to 0.7400-0.7500 area would likely be seen before breaking above the trend line resistance. Initial support is at 0.7770, a break below this level will suggest that a cycle top is being formed at 0.8014, and consolidation of uptrend is underway.
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.
