Sideway Trading In USD/CHF
Trading tone remains neutral, as the pair is staying in a range of 0.9855/9991. Trading below 0.9855 will widen the correction from 1.0056 with another fall to 0.9787 and below. Pivot points are at: (S1) 0.9921; (P) 0.9943; (R1) 0.9982.
Overcoming of 0.9991 will bring test of a maximum 1.0056. It is forecast, that support from 38.2% retracement of 0.9186 to 1.0056 at 0.9724 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.