USD/CHF: Sideways Consolidation Points to Potential Downside

Technical Overview and Market Context

The USD/CHF pair currently trades at 0.87926, reflecting a rather subdued 24-hour change of 0.14% and operating within a narrow day range of 0.87737 to 0.88116. My technical assessment indicates that the pair remains firmly entrenched in a sideways trend. Price action consistently finds resistance around the 0.8812 level, which aligns with previous swing highs. This persistent struggle to break higher suggests underlying selling pressure emerging at these critical junctures. Below, we observe immediate support at 0.8774, which has held multiple tests, forming a clear range. Further key support levels are identified at 0.875 and 0.87, representing significant downside targets should the current range resolve to the downside. My approach remains consistent: "Trade what