USD/CHF Technical Analysis: pair has charted falling wedge ahead of SNB

• The USD/CHF pair has created a falling wedge on the daily chart -  a bullish pattern - ahead of the Swiss National Bank (SNB) rate decision.
• A convincing move above 0.9965 (upper edge of the wedge) would confirm a bullish breakout. Theoretically, that would open the doors for re-test of 1.01285 (Nov. 13 high). The case for a re-test of recent highs, however, would strengthen after the horizontal resistance at 1.0008 (Dec. 5 high) is scaled.
• A break below 0.9863 (low of Tuesday's bull outside-day) would strengthen the bear grip on the pair.
• The Swiss National Bank (SNB) is widely expected to keep its policy rates unchanged at record lows. Swiss GDP unexpectedly fell 0.2 percent quarter-on-quarter in Q3, missing the estimated rise of 0.4 percent. As a result, the central bank is likely to retain a dovish tone.     

Daily chart

Trend: Bullish above 0.9965