USDCHF breaks above 0.9388 resistance, and reaches as high as 0.9462, suggesting that the downtrend from 0.9971 had completed at 0.9021 already. Further rise is still possible and next target would be at 0.9600 area. Support is at the upward trend line on daily chart, only a clear break below the trend line support could signal completion of the uptrend.
For long term analysis, USDCHF had formed a cycle bottom at 0.9021 on weekly chart. Further rise to 0.9700 could be expected over the next several weeks.
