USDCHF breaks below the lower line of the price channel on daily chart, suggesting that lengthier consolidation of the uptrend from 0.8931 is underway. Deeper decline to test 0.9421 support could be expected next week, as long as this level holds, one more rise towards 1.0500 is still possible. However, a breakdown below 0.9421 will indicate that the upward movement from 0.8931 has completed at 0.9971 already, then the following downward move could bring price to 0.9000 zone.
For long term analysis, USDCHF has formed a cycle bottom at 0.8931 on weekly chart. Further rise towards 1.0500 would likely be seen over next several weeks.
