Decrease of USD/CHF Might Extend

Trading in the pair is on the downside for 61.8% retracement of 0.9420 to 1.0037 at 0.9565. Pivot points are at: (S1) 0.9795; (P) 0.9811; (R1) 0.9828.

Recoil from 0.9420 has completed at 1.0037. Overcoming of resistance 0.9946 will indicate completion of the decline from 1.0037. Bottoming in the pair is possible below 0.9565.

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. Pull back from 1.0037 might prolong.