USDCHF remains in downtrend from 0.9314, and the fall extended to as low as 0.8881. Deeper decline is still possible after a minor consolidation, and next target would be at 0.8800 area. On the upside, a break above 0.9040 resistance will suggest that a cycle bottom had been formed at 0.8881 on 4-hour chart, then another rise towards 0.9314 previous high could be seen.

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