Range Trading In USD/CHF
Trading is neutral for consolidation, as the pair is limited in a range of 0.9651/9975. Further rise is possible to support turned resistance 0.9866. Pivot points are at: (S1) 0.9699; (P) 0.9727; (R1) 0.9745.
Overcoming of 0.9651 will aline 200% projection of 1.0067 to 0.9866 from 0.9981 at 0.8579. Hitting of 0.9775 will be the first signal of a near term trend reversal. Completion of the drop from 1.0067 is forecast.
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.