USD/CHF: Consolidation Is Expected
Trading is on the upside for 0.9866 key resistance level (61.8% retracement of 1.0067 to 0.9541 at 0.9866), as growth from 0.9541 extends. Pivot points are at: (S1) 0.9805; (P) 0.9831; (R1) 0.9861.
Overcoming of key resistance level 0.9866 will bring retest of high 1.0067. Trading below minor support 0.9804 will become neutral. Consolidation before staging another growth is expected.
Focus is on support turned resistance 0.9866 and growth from 0.9186 is expected to renew. Hitting of support turned resistance 0.9866 will point out completion of the pull back from 1.0067 at 0.9541. Overcoming of 0.9541 will point out widening of the decline. Still, break of low 0.9186 is not expected yet.