USD/CHF slowed near the support level around 0.9000/34 and has formed a Channel Down pattern. The formation has 46% quality and 49% magnitude in a 58-bar period.
The pair is trying to rebound from the support level but has not succeeded yet. The RSI indicator has reached its oversold area, which increases the possibility of a trend change. If the price bounces off the support level, the short-term forecast target for long traders might be around 0.9107.
The Stochastic indicator sharply increased from its oversold area to 65% value, but the pair has not reacted yet. If price decreases, bears might focus their attention on the support level around 0.9017. The premier target after possible breakout could be around 0.8940, where the one-month low stands.