USDCHF moved sideways in a range between 0.9085 and 0.9234 for several days. The price action in the range is likely consolidation of uptrend from 0.8569, one more rise towards 0.9314 previous high is still possible after consolidation. Initial support remains at the lower border of the price channel on 4-hour chart, as long as the channel support holds, uptrend could be expected to resume. Key support is now at 0.9085, only break below this level could indicate that the rise from 0.8569 is complete, then the following downward move could bring price back to 0.8000 area.
