USD/CHF: Deeper Fall Is Not Excluded
Stance of trading remains neutral, with a corrective price moves from 1.0056. Hitting of 0.9977 will point out completion of the pull back from 1.0067. Pivot points are at: (S1) 0.9927; (P) 0.9942; (R1) 0.9970.
Overcoming of resistance 0.9977 will bring retest of 1.0067. Trading below 0.9866 will widen the drop from 1.0067 through 0.9856 to support 0.9787. 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.