USDCHF formed a cycle top at 1.0898 level on daily chart. Range trading between 1.0608 and 1.0898 is expected. As long as 1.0608 support holds, one more rise to 1.1000 is still possible. However, a break below 1.0608 will indicate that the uptrend from 1.0132 has completed at 1.0898 already, then deeper decline towards to rising trend line from 0.9917 to 1.0132 could be seen.
For long term analysis, USDCHF has formed a cycle bottom at 0.9917 level on weekly chart. Bounce towards 1.1000 to reach next cycle top is expected.
