Swiss Franc Bearish Channel (USDCHF Bullish)

The longer term outlook for higher prices is intact, although the USDCHF may endure a period of softness as the pair trades down near support from the confluence of the 61.8% of 1.2124-1.2230 / channel support near 1.2203.

Former resistance at 1.2221 could now be support as well. Watch the channel (shown below).