Fall Resumption In USD/CHF

Technical Reports

Trading is on the downside for support 0.9856, as drop from 1.0067 resumes. The pair is seen as in consolidation from 1.0056 with fall from 1.0067 as the third leg. Pivot points are at: (S1) 0.9854; (P) 0.9906; (R1) 0.9934.

Overcoming of resistance 0.9977 will point out completion of the decline. Downside should be contained by 38.2% retracement of 0.9186 to 1.0056 at 0.9724.

Growth from 0.9186 is expected to resume to retest key resistance 1.0342, while 38.2% retracement of 0.9186 to 1.0056 at 0.9724 keeps. The consolidation from 1.0056 is extending. Overcoming of 0.9724 will bring deeper drop, as another declining leg in the long term range pattern.