USDCHF remains in downtrend from 1.1263 and the rebound from 1.0812 is more likely consolidation of the downtrend. As long as the pair stays below the falling trend line from 1.1263 to 1.1056, we€™d expect the downtrend to continue. However, above the trend line resistance will indicate that a short term cycle bottom is being formed at 1.0812 level on 4-hour chart, then the following rebound could take price to 1.1000 zone.