Maintaining the minor resistance of 0.8425 has allowed USD-CHF to remain on its trajectory towards 100% projection of 0.9339 to 0.8552 from 0.8945 at 0.8158 next. A move above 0.8452 will likely indicate that a short-term low is present, and that recovery towards 0.8552 support will be possible before another fall.
In the long-term, a downtrend from 1.1729 is present, with USD-CHF staying well-below falling 55 days EMA and the daily MACD remaining negative. Look for a future downtrend target of 100% projection of 1.1729 to 0.9462 from 1.0065 at 0.7798. A break of 0.8945 resistance is necessary to show a medium-term bottoming.
