USD/CHF Consolidates

The USD/CHF pair has been heavily consolidated for the last month when the pair entered trading in the range of 0.9980 and 0.9850. The pair has gone out of the consolidation pattern twice, once to the downside with a low of 0.9787 and once to the upside with a high of 1.0066.

Currently, USD/CHF is back into the pattern and is trading at 0.9916. Market sentiment for the pair is neutral thus causing the pair to trade sideways without significant events or news that could shake the market and possibly give us a direction.

It's still undecided whether market participants will keep on buying the US dollar in light of its recent rally or they will choose the more stable Swiss franc.

Chart: USD/CHF H4