Fall Of USD/CHF Extends
Trading is on the downside for 161.8% projection of 1.0067 to 0.9866 from 0.9981 at 0.9656. The pair’s drop reaches minimum 0.9672. There is no sign of bottoming yet. Pivot points are at: (S1) 0.9679; (P) 0.9701; (R1) 0.9716.
The next target is 200% projection at 0.8579. Deeper fall is not excluded, even in case of recovery. Trading above minor resistance 0.9714 will become neutral.
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.