Recoil of USD/CHF Might Renew

Trading in the pair is neutral. The correction from 1.0037 might extend through 0.9734. Pivot points are at: (S1) 0.9875; (P) 0.9895; (R1) 0.9913.

Support from 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 will complete the correction from 1.0037. 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.