Consolidation in USD/CHF Can Extend

Trading in the pair is neutral and the consolidation from 0.9613 can prolong. Pivot points are at: (S1) 0.9724; (P) 0.9740; (R1) 0.9755.

Further decline in the pair is awaited and bottoming is not ruled out. Overcoming of 0.9807 level will point out near term trend reversal and forecast will become bullish for resistance 1.0099. Fall from 1.0342 can prolong to support 0.9548.

The pair is limited in a medium term range of 0.9443/1.0342. Downside should be limited by key support level 0.9443. Overcoming of key resistance 1.0342 will confirm bullish momentum in the pair.