USD/CHF touched a resistance level at 0.9173 and formed a descending channel on 30M chart. The pattern has 44% quality and 94% magnitude in a 92 bar period.
The pair fluctuated in a horizontal range inside the channel and reached the resistance level at 0.9173. Stochastic indicator reached its overbought area and supports the idea of the pair's possible recovery. Bearish traders will pay attention to the key support level at 0.9008. If pair breaks the support level, the primary forecast target may be around 0.9047.
RSI indicator is growing along with Stochastic, but it has not reached its critical level yet. Long traders are waiting the pair reaction on resistance level at 0.9173. If pair breaks the resistance the first target for bulls can be around 0.9247.