USDCHF broke below the long term key support at 1.0890 (Nov 23, 2007 low), and is now in long term down trend. Further fall towards 1.0700 area to reach the next short term cycle bottom on 4-hour chart is still possible. Near term resistance is at 1.1046, only break of this level will signal consolidation to the down trend.
http://blog.forexcycle.com/683/short...s-jan-15-2008/