Corrective Fall In USD/CHF Goes On
Trading is on the downside for fibonacci level 0.9724, as a corrective decline from 1.0056 continues. Pivot points are at: (S1) 0.9772; (P) 0.9821; (R1) 0.9853.
Overcoming of minor resistance 0.9911 will point out completion of the drop. The pair’s near term forecast will stay bearish in case of recovery.
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.