For over 10 long years the USDCHF has been in a down trend. Lower highs and lower lows has confirmed the trend to continue, however over the course of 2.5 years USDCHF has bucked the trend by locking in a higher low as it takes a shot to crack its' previous high. This is substantial for the bulls as they can now attempt to take out resistance and put an end to the bears 10+ year run. In the short term 1.03 is a key level of interest. If it can be broken and hold as support then that would set the stage for higher highs.