USD/CHF: Initiating a Short Position within a Defined Sideways Range

Technical Outlook and Setup

My focus for USD/CHF is on a potential short opportunity, aligning with a swing trading timeframe. The current market condition for USD/CHF is notably sideways, with the price fluctuating around 0.8799. However, the structure is clear within this consolidation. We observe strong resistance around the 0.8828 and 0.885 levels, which have previously caped upside attempts. On the downside, support is established at 0.8771, 0.875, and a more significant level at 0.87.