Downside Of USD/CHF Should Be Restrained
Trading is neutral, as the pair’s retreat was contained at 0.9956. More correction is expected. 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. In case of another fall downside should be contained by trend line support (now at 0.9764).
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.