Key Technical Levels
The USD/CHF is forming a wedge as the pair found resistance at the declining trend line. Rising short-term support may limit downside risks and promote further consolidation. The support and resistance levels will give traders solid targets to enter and exit positions. However, these formations often lead to breakouts and traders should view a failure of either level as a warning sign.
Quantitative Metrics
The USD/CHF the lowest Bollinger band width of the most traded pairs at 343 pips which adds to the pair’s attractiveness as a scalping target. Meanwhile, an average true range (ATR) of 99 pips is also a positive quality and is a sign that traders remain reluctant to aggressively trade the pair as long as SNB intervention remains a possibility.
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