USD/CHF Technical Analysis: Traders await a convincing break through a rectangular chart pattern

   •  Over the past four trading sessions, the pair has been oscillating in a narrow trading range below the parity market, forming a rectangular chart pattern on hourly charts.

   •  A rectangle is a continuation pattern that forms as a trading range during a pause in the trend, though sometimes marks a significant trend top or bottom. 

   •  Meanwhile, mixed technical indicators on hourly/daily charts seemed to hold back traders from placing any aggressive near-term directional bets.

   •  Hence, it would be prudent to wait for a convincing break through the mentioned range before traders start positioning for the pair's near-term trajectory.
 

USD/CHF 1-hourly chart