USDCHF failed to break above the upper line of the price channel on daily chart, suggesting that the pair remains in downtrend from 0.9751 (Jul 9, 2013 high), the price action from 0.8699 could be treated as consolidation of the downtrend. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 0.8300 area. Only a clear break above the channel resistance could signal completion of the downtrend.
