The second week of trading on the dollar / franc did not go far beyond the price range 1.0030-1.0110

Drawing attention to the 4 hours chart, we can see that already the second week of trading on the dollar / franc did not go far beyond the price range of 1.0030-1.0110. Based on what we can conclude that short-term uncertainty of market participants remains
USD/CHF

Current price level is located below the moving averages with periods of 34, 55, 89 and 144, which are directed downward and point to the continuing bearish sentiment.

The MACD histogram is located in the negative zone, above its signal line, continues to slowly increase and thus generates a signal to buy the dollar / franc.

Stochastic Oscillator is in the neutral zone and gives the opposite message, as the% K line crossed the line% D top-down and start to fall below it.

The contradiction in the signals that feed the indicators as well as the fact that the trades are in the range, leads us to the fact that the most correct decision now – to stay out of the market and wait for the completion of consolidation in the range 1.0030-1.0110.

There are two possible developments:

1. Break of 1.0110 resistance level and the correction to the levels of 1.0170 and 1.0220.

2. Break of 1.0030 support level and the reduction of quotations to the levels of 0.9970 and 0.9930/00.

Resistance levels: 1.0090, 1.0120, 1.0150, 1.0170, 1.0200/20

Current Price: 1.0058

Support levels: 1.0050, 1.0030, 1.0000, 0.9970, 0.9950, 0.9930/00