Upside Of USD/CHF Is Bounded

Technical Reports

Stance of trading is still neutral, but upside is limited below minor resistance 0.9982. Pivot points are at: (S1) 0.9850; (P) 0.9916; (R1) 0.9981.

Support from the trend line should complete the correction from 1.0056. Trading above minor resistance 0.9982 will bring retesting of a maximum 1.0056. The pair should aline fibonacci level 0.9724 next.

A medium term fall from 1.0342 has completed down to 0.9186. Growth from 0.9186 is currently viewed as a leg inside the long term range pattern, which could prolong while 38.2% retracement of 0.9186 to 1.0056 at 0.9724 keeps. Upside should be bounded by strong resistance from 1.0342.