The USD/CHF pair has been consolidating for about 2 weeks – in the context of an uptrend. A movement to the upside would strengthen the bullish bias, while a movement to the downside will render it invalid. Further consolidation will enforce a neutral bias on the market. The remaining part of the week will determine what will happen.
A rise in volatility is expected today or tomorrow. There is a Bullish Confirmation Pattern in the 4-hour chart. Price may rise again, possibly reaching the resistance level at 1.0050 and breaching it to the upside.
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