Decrease of USD/CHF Continues

Trading in the pair is on the downside for 61.8% retracement of 0.9420 to 1.0037 at 0.9656. Pivot points are at: (S1) 0.9772; (P) 0.9799; (R1) 0.9817.

Overcoming of resistance 0.9946 will indicate completion of the decline from 1.0037. Bottoming in the pair is possible below 0.9656.

The pair’s trading stays in a range of 0.9420/1.0342 and a medium term forecast is neutral. Overcoming of 1.0342 will confirm resumption of upside momentum.