Fall Resumption In USD/CHF
Trading of the pair is on the downside, with focus on trend line support (now at 0.9872). Pivot points are at: (S1) 0.9823; (P) 0.9862; (R1) 0.9899.
Overcoming of 0.9872 will indicate that decline from 1.0056 is a larger correction. 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.