USD/CHF: Stronger Recovery Is Not Ruled Out

Technical Reports

Trading is neutral for consolidation from a temporary low 0.9651. Stronger recovery is not excluded. Pivot points are at: (S1) 0.9681; (P) 0.9695; (R1) 0.9706.

Overcoming of 0.9651 will widen the fall from 1.0067 to 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579. Upside should be limited by minor resistance 0.9775.

Drop from 1.0067 could extend to 61.8% retracement of 0.9816 to 1.0067 at 0.9523. Growth from minimum 0.9186 has completed at 1.0067, after failing to sustain above resistance 1.0037. Hitting of support turned resistance 0.9866 will point out completion of the fall from 1.0067. Growth resumption from 0.9186 is awaited.