USDCHF remains in downtrend from 0.9751, the rise from 0.8967 is treated as consolidation of the downtrend. Further rise to the upper line of the price channel to complete the consolidation would likely be seen over the next several days. Key resistance is at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.8500 is still possible. On the upside, a clear break above the channel resistance will indicate that the downtrend from 0.9751 had completed at 0.8967 already, then the following upward movement could bring price to 0.9700 zone.
