USDCHF remains in up trend, and the rebound from 1.0842 could possibly be resumption of up trend. Further rise towards 1.1200 level is possible in next few days. Initial support is now at 1.0842 followed by 1.0740, only fall below 1.0842 level will signal lengthier consolidation to up trend.
For long term analysis, USDCHF broke above 1.0623 (May 8 high) long term resistance, suggesting that the long term down trend from 1.3288 (2005 high) has completed. The rise from 0.9634 (Mar 17 low) is now treated as resumption of long term up trend. Further rise towards 1.1600 is now in favor.
