Corrective Rise of USD/CHF Should Extend

Technical Reports

Trading stays on the upside. It is awaited, that corrective growth from 0.9186 will widen higher. Pivot points are at: (S1) 0.9513; (P) 0.9538; (R1) 0.9558.

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 increase of the pair will extend to next fibonacci level at 0.9900.

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.