Downtrend Resumption in USD/CHF is Possible

Technical Reports

Character of trading in the pair is neutral. Deeper decline is awaited, considering resistance 0.9536. Pivot points are at: (S1) 0.9301; (P) 0.9347; (R1) 0.9384.

The consolidation above 0.9288 continues. Overcoming of 0.9288 level will renew the downtrend and target key fibonacci level at 0.9115.

Overcoming of support 0.9420 points out that decline from 1.0342 is developing into a medium term downtrend. The pair’s decrease may continue to 100% projection of 1.0342 to 0.9420 from 1.0037 at 0.9115. The pair will form a medium term bottom, in case of overcoming of resistance 0.9640.