Downside of USD/CHF Should be Limited
Trading is neutral, as the pair stays in consolidation from 0.9613. Pivot points are at: (S1) 0.9705; (P) 0.9723; (R1) 0.9735.
Bottoming in the pair is awaited. 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.