USDCHF’s fall from 1.1730 extends further to as low as 1.1249 level. Resistance remains at the falling trend line, now at 1.1450. As long as the trend line resistance holds, deeper decline is still possible and next target would be at 1.1200 area. However, a clear break above the trend line resistance will indicate that a cycle bottom is being formed on 4-hour chart, then rise to 1.1600 could be seen. width=400