Fall Of USD/CHF Extends

Technical Reports

Trading is on the downside, as the pair fell to 0.9869. Focus is on support 0.9855. Trading below 0.9855 will widen the correction from 1.0056 with another fall to 0.9787 and below. Pivot points are at: (S1) 0.9875; (P) 0.9910; (R1) 0.9935.

Overcoming of 0.9991 will bring test of a maximum 1.0056. It is forecast, that support from 0.9722/4 cluster support (38.2% retracement of 0.9186 to 1.0056 at 0.9724, 100% projection of 1.0056 to 0.9787 from 0.9991 at 0.9722) will contain downside and bring a recoil.

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. Overcoming of 0.9724 will bring deeper drop to 61.8% retracement at 0.9518.