Recoil in USD/CHF Continues

Trading in the pair is on the upside as recoil from 0.9473 goes on. Pivot points are at: (S1) 0.9677; (P) 0.9720; (R1) 0.9771.

Overcoming of resistance 0.9699 suggests near term trend reversal after defending key support 0.9443. Further increase in the pair is possible to 38.2% retracement of 1.0342 to 0.9437 at 0.9783. Overcoming of 0.9630 level will indicate completion of the recoil.

The pair has defended key support level 0.9443. Uptrend in the pair is possible. The pair can lose upside momentum above 61.8% retracement of 1.0342 to 0.9437 at 0.9996.