Consolidation Of USD/CHF Could Extend
Trading tone is still neutral. Break of maximum 1.0067 will renew growth from 0.9186. Pivot points are at: (S1) 0.9904; (P) 0.9927; (R1) 0.9961.
Overcoming of 0.9984 will bring testing of key resistance 1.0067. While another decline for widening the consolidation from 1.0056 is expected, 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 fibonacci level 0.9724 will bring deeper drop, as another declining leg in the long term range pattern.