Range Trading In USD/CHF

Technical Reports

Trading is neutral, as correction from 1.0056 continues. The pair is staying in a range above 0.9787. Pivot points are at: (S1) 0.9836; (P) 0.9855; (R1) 0.9872.

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.