OANDA:USDCHF   U.S. Dollar / Swiss Franc
Taking a look at the USDCHF HOURLY chart, the currency pair closed around the support level of 0.97124. This shows a possibility that the currency pair has formed a consolidating pattern between the exchange rates 0.97338 and 0.97124. The Aroon (14 period) is showing signs of further consolidation within the fibonacci retracement levels and increasing the possibility of a bounce-back. At the same time, the currency pair can break through this support level and head towards 0.96973 exchange rate (i.e, Fib level 0.618) and probably bounce back-up at this point.

Further confirmation needed when markets open.


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