USDCHF - Expects consolidation within narrow range near term

USDCHF pulled back sharply from the .9903 high (August 11, 2015) to .9673 (near 2-month rising channel support) before consolidating. Near term, the pair is expected to remain under the .9798/.9783 resistance zone (under the 8-day rising channel lower bounds, now resistance), building a narrowing range. A break above .9820 (61.8% of the .9903/.9673 fall) would signal return of strength to test .9903. However, a breakdown below .9719 pivot (near 20month rising channel support) would caution for further weakness towards the .9668/.9673 area.