USDCHF remains in uptrend from 0.9206, the fall from 0.9838 is treated as consolidation of the uptrend. Support is located at the lower line of the price channel on daily chart, as long as the channel support holds, another rise to test 0.9971 (Jul 24, 2012 high) is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 0.9206 had completed at 0.9838 already, then another fall towards 0.8500 could be seen.
For long term analysis, USDCHF is in downtrend from 0.9971 (Jul 24, 2012 high). Further decline to 0.8500 area could be expected over the next several weeks.
