USDCHF remains in downtrend from 0.9511, and the fall extends to as low as 0.9083. Further decline would likely be seen next week, and next target would be at 0.9000 area. Resistance is located at the upper line of the price channel on daily chart, as long as the channel resistance holds, the downtrend will continue. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the downtrend from 0.9971 is underway, then further rally to 0.9400 could be expected.
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.
