USDCHF formed a cycle top at 1.1595 on daily chart, and the fall from 1.1595 extended to as low as 1.1017. Further pullback towards 1.0890 previous low to reach the next cycle bottom is still possible. Near term resistance is at 1.1595, a break above this level will signal the resumption of the up trend.
For long term analysis, the pair formed a long term cycle bottom at 1.0890 on weekly chart, and further rise towards 1.2900 area is still in favor.
