USDCHF formed a short term cycle bottom at 0.9634 on 4-hour chart. Rebound from 0.9634 is treated as correction to the longer term down trend. Further rise to 1.0200 area to reach the next cycle top is still possible in the next several days. As long as 1.0352 resistance holds, we’d expected down trend to resume. Key support is at 0.9634, a break of this level will signal the resumption of the down trend.