Downside Of USD/CHF Should Be Limited
Trading is neutral for consolidation from a temporary low 0.9954. Hitting of 0.9954 will aline resistance 1.0067. Pivot points are at: (S1) 0.9906; (P) 0.9926; (R1) 0.9944.
While deeper pull back cannot be ruled out, downside should be contained by 38.2% retracement of 0.9541 to 0.9954 at 0.9796 to bring another growth.
The growth from 0.9186 is likely resuming, as the pull back from 1.0067 has completed at 0.9541. Overcoming of 1.0067 will bring retest of key resistance 1.0342. Upside should b limited by strong resistance from 1.0342. Another medium term fall to extend long term range trading is awaited.