USD/CHF tested support level around 0.9026 creating a Channel Up pattern on the 4H Chart. The pattern has 49% quality along with 62% magnitude within 174-bar period.
The pair bounced off the resistance level at 0.9334 and fell to the support at 0.9002/16. Stochastic reached its oversold area, showing that the pair is oversold, increasing the probability of a price recovery. If the Dollar grows versus Swiss Franc, the premier target for bullish traders could be around 0.9137.
The RSI indicator stays neutral while the price has reached its support level at 0.9002/16. Present bias for current timeframe is neutral, while it is "strong sell" on weekly. If the pair breaks present support level, the forecast short-term target for short traders could be around 0.8983.