Growth of USD/CHF Should be Limited

Technical Reports

Trading tone stays neutral, as the pair is staying in a range of 0.9423/9568. Pivot points are at: (S1) 0.9442; (P) 0.9469; (R1) 0.9493.

The recoil from 0.9186 might prolong, but upside should be bounded by fibonacci level 0.9626. Overcoming of support 0.9432 will point out a near term trend reversal, and trading will back to the downside for retesting minimum 0.9186. Further growth in the pair is not excluded.

Decline from 1.0342 is considered to be a medium term downtrend, which could be completed. Focus is on 38.2% retracement of 1.0342 to 0.9186 at 0.9626, and overcoming of that range will confirm trend reversal. Still, rejection from 0.9626 will retain a medium term bearishness for another minimum below 0.9186.