After breaking below 0.8832 support, USDCHF bounced strongly from 0.8799, suggesting that lengthier consolidation of the downtrend from 0.9249 (Nov 7 high) is underway. Further rally would likely be seen, the target would be at upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 0.8500 is still possible. Only a clear break above the channel resistance could signal completion of the downtrend.
