After touching the upper line of the price channel on daily chart, USDCHF pulled back from 0.9249, suggesting that the pair remains in downtrend from 0.9751. Further decline is possible next week, and next target would be at 0.9000 area. On the upside, a clear break above the channel resistance will indicate that lengthier consolidation of the longer term downtrend from 0.9838 (May 22 high) is underway, then further rise to 0.9550 area to complete to consolidation could be seen.
