USD/CHF Consolidated

USD/CHF has been consolidating around lower line of the downtrend trading channel. The pair is now 0.9668 and has been gravitating between 0.9700 and 0.9600. USD/CHF was trading in the red for the second half of May going from 1.0100 to a low of 0.9613.

As it seems, market participants are waiting for fresh news to stir the market and hint a probable direction so they can make their decision and join the tidal wave.

Major bear target is seen at 0.9540 as the support of the medium term channel, while bulls eye the level of 0.99 as major target.

No news are scheduled from both sides until the end of the week so we might expect quiet market hours until this week's closing candle.

Chart: USD/CHF H4