Both the 1-hour chart’s 100 and 200 SMAs are still pointed higher, which can support further buying.

But USD/CHF has stalled in a 75-pip range between .9425 and .9350 after a sharp upswing last week. The range’s resistance, in particular, was also a major inflection point back in November and December.

And then there’s Stochastic, which just hit overbought status.

USD/CHF’s next direction might depend on how many risk-averse traders pick USD over CHF amidst the Fed’s hawkish expectations and higher Treasury yields.

Increased USD demand could bust USD/CHF above its consolidation and retest levels not seen since December. .9460 is a good area to watch though the pair could also hit .9500 if there’s enough momentum.

Meanwhile, concerns for the U.S. economy or risk-taking in other markets might drag the dollar lower against CHF.

If it’s looking like the .9425 range resistance is holding, then you gotta be ready to trade a possible trip to the .9380 mid-range levels or the .9350 support closer to the 200 SMA.