USDCHF stays in a downward price channel on daily chart, and remains in downtrend from 0.9751, the rise from 0.8890 could be treated as consolidation of the downtrend. Initial resistance is located at the upper line of the channel, as long as the channel resistance holds, the downward could be expected to resume, and one more fall towards 0.8500 is still possible. Key resistance is at 0.9249, only break above this level will indicate that lengthier consolidation of the longer term downtrend from 0.9838 (May 22 high) is underway, then further rally to 0.9550 area to complete the consolidation could be seen.
