Being supported by the lower line of the price channel on daily chart, USDCHF rebounded from 0.9001, suggesting that a cycle bottom is being formed. Further rise would likely be seen next week and next target would be at 0.9350 area. Support remains at the bottom of the channel, only a clear break below the channel support could trigger another fall towards 08569.
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.
