USDCHF stays in a upward price channel on 4-hour chart, and remains in uptrend from 0.9421, the fall from 0.9872 is treated as consolidation of the uptrend. Further decline to test the support of the lower border of the channel would likely be seen, as long as the channel support holds, uptrend could be expected to resume, and another rise to 1.0000 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend from 0.9421 has completed at 0.9872 already, the the following downward movement could bring price back to 0.9500 zone.
Posted on by forex-trader