USD/CHF: Short Term Topping Is Possible

Technical Reports

Trading is on the upside for resistance 1.0037, despite the pair is losing some upside momentum. Pivot points are at: (S1) 0.9965; (P) 0.9994; (R1) 1.0025.

Overcoming of 0.9937 will point out a short term topping, and trading below that level will become neutral for consolidation. Overcoming of 1.0037 will extend the growth from 0.9186 and aline key resistance level 1.0342.

A medium term fall from 1.0342 has completed down to 0.9186, and growth from that point is currently viewed as a leg inside the long term range pattern. While further increase is expected as long as 0.9648 resistance turned support holds, upside should be bounded by strong resistance from 1.0342.