Widening of Recoil in USD/CHF is Possible

Technical Reports

Trading in the pair is neutral. Recoil from 0.9420 has completed. Pivot points are at: (S1) 0.9722; (P) 0.9742; (R1) 0.9774.

Overcoming of temporary top 0.9835 will prolong the recoil to 61.8% retracement of 1.0342 to 0.9420 at 0.9990.

The pair has defended key support 0.9443. Growth from 0.9420 could develop into a medium term move and target a test on maximum 1.0342. Overcoming of support 0.9587 will indicate completion of the growth from 0.9420.