The USD/CHF May Form a Short Term Bottom
Trading is neutral, but fall of the pair might prolong, considering minor resistance 0.9392. Pivot points are at: (S1) 0.9259; (P) 0.9298; (R1) 0.9345.
Drop from 1.0037 should widen to key fibonacci level at 0.9115. Overcoming of minor resistance 0.9392 will point out a short term bottoming.
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.