USD/CHF slowed near support level around 0.9080 and formed a Channel Up formation on the daily chart. The pattern has 65% and 40% magnitude within 122 bars.
The pair was trading in a tight range after it touched the support at 0.8938 for the first time. The Stochastic indicator is trying to rebound from its critical area, and is 75% now, which may lead to the pair possible recovery. If the price increases, the forecast target for bullish traders might be around 0.9332, where the previous local high stands.
Present bias on daily and month timeframes remains neutral while on 1W indicators give Sell signal. Bears may focus their attention on the support level at 0.9080 and if the price spikes the support level, the first target for short traders might be around 0.8816.