The Swiss Franc continues to oscillate in a narrow consolidation pattern around the 0.90 figure to the US Dollar. A break below upward-sloping support - now at 0.8970 - on a daily closing basis targets swing lows at 0.8939 and 0.8902. Alternatively, a push above resistance at 0.9014 aims for the
Risk/reward considerations argue against taking a trade at current levels as prices look for direction in the immediate vicinity of near-term support and resistance levels. We will continue to wait on the sidelines for the time being, looking for a clearly-defined breakout from consolidation to consider a directional bet.