USDCHF’s bounce from 1.0347 extended to 1.0554 only. The subsequent fall implies that lengthier consolidation in a range between 1.0347 and 1.0675 is underway. As long as 1.0675 key resistance holds, one more fall towards 1.0200 is still possible, and a breakdown below 1.0347 will signal resumption of downtrend. However, above 1.0675 will indicate that the fall from 1.1730 (Jun 1 high) had completed at 1.0347 already, then the following upward movement could bring price to 1.1000 area.

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