A Range Trading of USD/CHF Goes on
Character of trading is neutral, as the pair is limited in a range trading above temporary minimum 0.9288. Pivot points are at: (S1) 0.9281; (P) 0.9320; (R1) 0.9350.
The consolidation above 0.9288 continues. Overcoming of 0.9288 level will renew the downtrend and target key fibonacci level at 0.9115. Break of 0.9448 will point out a short term bottoming and bring a recoil.
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.