USD/CHF: Consolidating Trade Extends
Trading tone is neutral, as consolidation from 0.9186 goes on. Pivot points are at: (S1) 0.9339; (P) 0.9365; (R1) 0.9405.
Overcoming of 0.9469 will indicate a near term trend reversal. Upside should be bounded by resistance 0.9469. Drop resumption in the pair is possible, and trading below 0.9186 will extend the downtrend and aline medium term projection level 0.9115.
Decline from 1.0342 is considered to be 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. Trading above 55 day EMA will point out a medium term trend reversal.