Widening of Correction in USD/CHF is Possible

Technical Reports

Stance of trading is neutral. Correction from 1.0037 has completed to 0.9698. Pivot points are at: (S1) 0.9742; (P) 0.9794; (R1) 0.9834.

Overcoming of 0.9698 will widen the correction to 61.8% retracement of 0.9420 to 0.1.0037 at 0.9656. Trading above 0.9844 will back to the upside for 0.9977.

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.