USD/CHF Consolidated

The USD/CHF pair is trading in consolidation for the past couple of week. The price has experienced somewhat of a congestion in the range of 0.9900 and 0.9820. Main trend on the short term scale is neutral as the pair is trading sideways.

Market participants would need a market shaker that could stimulate both sides to take action and this would break the range trading. Bulls are now trying to outrun as price has made some attempts in the last few hours to post fresh gains going from 0.9832 to current market price of 0.9887.

If bulls could go above 0.99 this could further ignite buying power and push the price higher to parity. On the other hand, bears are dominating the mid-term horizon as price is now out of the upwards trending channel and currently looking to form a new one.

Chart: USD/CHF H4