USDCHF breaks below 0.9214 support, suggesting that the downtrend from 0.9971 has resumed. Further decline could be expected next week, and next target would be at 0.9000 area. Resistance levels are at 0.9300 and 0.9400, as long as these levels hold, the downtrend from 0.9511 will continue.
For long term analysis, USDCHF had formed a cycle top at 0.9971 on weekly chart. Further decline to 0.8500 area would likely be seen over the next several months.
