Corrective Fall Of USD/CHF Could Extend

Technical Reports

Trading is neutral, and a corrective decline from 1.0056 continues and could prolong. Pivot points are at: (S1) 0.9798; (P) 0.9843; (R1) 0.9895.

Overcoming of minor resistance 0.9911 will point out completion of the drop. Still, downside should be contained by strong support from fibonacci level 0.9724.

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.