USDCHF is forming a cycle top at 0.9314 on daily chart, key support is at the uptrend line, a clear break below the trend line will confirm the cycle top, then deeper decline to 0.8500 could be seen. However, as long as the trend line support holds, the fall from 0.9314 could possibly be consolidation of uptrend from 0.7067, and one more rise to 0.9700 is still possible.
For long term analysis, USDCHF had formed a cycle bottom at 0.7067 on weekly chart, range trading between 0.7067 and 1.0000 is expected in next several months.
