USDCHF remains in uptrend from 0.9328, the fall from 0.9774 is likely consolidation of uptrend. Initial support is at the lower border of the rising price channel on 4-hour chart, and key support is at 0.9650, as long a this level holds, uptrend could be expected to resume and another rise towards 1.0000 is still possible after consolidation, only break below 0.9650 could indicate that lengthier consolidation of uptrend is underway and delay the resumption of uptrend.
Written by ForexCycle.com