USD/CHF: Deeper Decline Is Possible
Trading tone is still neutral, with focus on resistance 0.9766. Deeper fall is not excluded. Pivot points are at: (S1) 0.9683; (P) 0.9717; (R1) 0.9738.
Overcoming of resistance 0.9766 will point out completion of the fall from 1.0067. In that case, trading will back to the upside for support turned resistance 0.9866. Hitting of 0.9640 will resume the fall from 1.0067 for fibonacci level 0.9523.
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.