Completion of Correction in USD/CHF is Expected
Trading in the pair is on the downside for 0.9734. Correction from 1.0037 should have completed. Pivot points are at: (S1) 0.9829; (P) 0.9853; (R1) 0.9873.
Downside should be contained by support from 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656. Overcoming of 0.9977 will renew the recoil from 0.9734 for resistance 1.0037.
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.