USD/CHF: Trend Reversal Is Expected
Trading tone is still neutral, with focus on minimum 0.9640. Deeper fall is not excluded. The pair’s forecast will stay bearish even in case of recovery. Pivot points are at: (S1) 0.9633; (P) 0.9675; (R1) 0.9699.
Overcoming of resistance 0.9766 will indicate a near term trend reversal. 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.