Decrease of USD/CHF Should be Bounded
Stance of trading is neutral. Deeper fall is possible in the pair. Pivot points are at: (S1) 0.9718; (P) 0.9758; (R1) 0.9807.
Support from 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656 will contain downside. Overcoming of 4 hour 55 EMA will indicate completion of the correction.
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.