Sudden Bearish USDCHF Move

A false break of the rising wedge has just occurred, and price action has now gone back into the wedge zone. The upper bound of the rising wedge was retested through a retracement on the down slope. I can see price trending down all the way to S1 before seeing signs of reversal at this support slope. Note that as price trends down towards S1 the 1.00 psychological level will need to be broken.