USD/CHF 4H Chart: Horizontal pattern

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The US Dollar stopped the previously mapped short term surge against the Swiss Franc.

The reason was the recent decline of the US Dollar against the rest of the markets. The depreciation of the Buck was caused by the release of the lower than expected US Producers Price Index.

As a result of the decline the currency pair has declined down to the 0.97 level. At that level on Friday the fall of the Greenback against the Franc paused. The support might have been provided by a speculated horizontal channel pattern. 

If the pattern's support holds, the pair should begin a short term ascending channel.

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