USDCHF moved sideways in a range between 0.9244 and 0.9546 for several days. The price action in the range is likely consolidation of uptrend from 0.8569 (Oct 27, 2011 low). As long as 0.9244 key support holds, uptrend could be expected to resume, and one more rise towards 1.0000 is still possible after consolidation. Only a breakdown below 0.9244 could indicate that the uptrend from 0.8569 had completed at 0.9546 already, then the following downward move could bring price back to 0.8850 area.

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