USD/CHF Stays In Consolidation

Technical Reports

Trading is neutral for consolidation below temporary top 1.0026. Hitting of support 0.9848 will indicate a near term trend reversal. Break of 1.0026 will indicate resumption of the rally from 0.9541 to resistance 1.0067. Pivot points are at: (S1) 0.9984; (P) 1.0004; (R1) 1.0041.

Overcoming of resistance 1.0067 will indicate resumption of larger growth from 0.9186 to key resistance 1.0342. The pair’s forecast will remain bullish while support 0.9848 keeps.

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.