USD/CHF: Oscillation around the 200 EMA on the 4 hour chart

The Dollar versus the Swiss Franc holds on to yesterday’s gains, but it stays oscillating around the 200 period exponential moving average on the 4 hour chart. It looks like price has formed a breakout and pullback pattern around that moving average and it is possible to see a bullish continuation next week. The bullish trend is still in place and if the price continues rallying, then the 0.9800 level could act as a resistance like it did in the past. However, if the price breaks below the 55 period exponential moving average, around the 0.9574, then the bearish momentum may accelerate and the pair may correct to the downside.