Correction In USD/CHF

Technical Reports

Trading is on the downside for correction from a short term 1.0056 top. Deeper pull back to trend line support (now at 0.9764) is not excluded. Pivot points are at: (S1) 0.9968; (P) 1.0004; (R1) 1.0032.

Overcoming of 1.0037 will extend the growth from 0.9186 and aline key resistance level 1.0342. Support from 4 hour 55 EMA will bring growth resumption.

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 keeps, upside should be bounded by strong resistance from 1.0342.