USD/CHF: Deeper Fall Is Not Excluded

Technical Reports

Stance of trading is neutral. Deeper fall is possible to fibonacci level 0.9724. Pivot points are at: (S1) 0.9842; (P) 0.9878; (R1) 0.9914.

Overcoming of 0.9825 will point out that drop from 1.0056 is correcting whole rise from 0.9186. Trading above minor resistance 0.9982 will bring retesting of a maximum 1.0056.

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.