USDCHF Technical Analysis: prices are wedged too closely between near-term support and resistance levels

The US Dollar moved sharply lower against the Swiss Franc, issuing the largest decline in two months. A daily close below trend line support at 0.9769 exposes the 23.6% Fibonacci retracement at 0.9695. Alternatively, a move above the 14.6% Fib at 0.9859 opens the door for a test of the March 12 high at 1.0251.

Resistance	Support
0.9859	0.9769
1.0126	0.9695
1.0251	0.9428

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.