Being supported by the lower border of the price channel on 4-hour chart, USDCHF rebounded from 0.9002, suggesting that a cycle bottom is being formed. Further rally would likely be seen later today, and a break above 0.9150 could signal resumption of uptrend from 0.7711, then next target would be at 0.9500 area. Key support is at 0.8917, only breakdown below this level could indicate that the uptrend from 0.7711 had completed at 0.9314 already, then the following downward move could bring price back to 0.8500 zone.

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