USDCHF breaks above 1.0785 resistance. Further rally towards 1.0898 previous high is still possible next week. As long as this level holds, we’d expect downtrend to resume and another fall to 1.0200 would more likely be seen, however, a break below 1.0600 is needed to confirm the resumption of downtrend.
For long term analysis, USDCHF has formed a cycle top at 1.0898 level on weekly chart. Another fall towards 1.0200 is expected.
