USDCHF remains in downtrend from 0.9249 (Nov 7 high), the price action from 0.8839 could be treated as consolidation of the downtrend. Further rise to complete the consolidation would likely be seen, and the target would be at the upper line of the price channel on 4-hour chart. However, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.8500 is still possible. Only a clear break above the channel resistance could signal completion of the downtrend.
