The Swiss franc currency is starting to consolidate against the US dollar as the pair awaits its next major directional price move. The one-hour time frame clearly shows that the pair is trapped inside a large symmetrical triangle, which is typically a neutral pattern. Selling rallies towards the top of the triangle could present a swing trading opportunity in expectation of a decline towards the bottom of the triangle.
The USDCHF pair is only bullish while trading above the 0.8980 level, key resistance is found at the 0.9000 and 0.9020 levels.
The USDCHF pair is only bearish while trading below the 0.8980 level, key support is found at the 0.8965 and 0.8950 levels.
