Being supported by the lower line of the price channel on 4-hour chart, USDCHF rebounded from 0.8931, suggesting that a cycle bottom has been formed on daily chart. Further rise could be seen in a couple of weeks, and next target would be at 0.9400 area. Key support is at 0.8931, only break below this level could trigger another fall to 0.8700 zone.
For long term analysis, USDCHF may be forming a cycle bottom at 0.8931 on weekly chart. Further rise towards 1.0000 could be seen over next several months.
