USDCHF failed to break below 0.8907 support, indicating that lengthier sideways movement in a range between 0.8907 and 0.9036 is underway. Another rise to test 0.9036 resistance is possible, a break above this level will signal resumption of the uptrend from 0.8703 (May 8 low), then next target would be at 0.9200 area. On the downside, a breakdown below 0.8907 support will signal completion of the uptrend from 0.8703, then deeper decline to 0.8800 area could be seen.
Article by ForexCycle.com