USDCHF has formed a cycle top at 0.9302 on daily chart. Further decline to test 0.9083 support could be seen next week, a breakdown below this level will signal resumption of the downtrend from 0.9511, then next target would be at 0.8900 area. Resistance is at 0.9302, only break above this level will indicate that lengthier consolidation of the longer term downtrend from 99.71 is underway, then further rally to 0.9450 area 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.
