USD/CHF: Growth Might Renew

Technical Reports

Trading is neutral, as the pair recovers quickly after falling to 0.9952. The growth from 0.9541 is expected to resume. The consolidation from 1.0094 might extend. Pivot points are at: (S1) 0.9968; (P) 1.0010; (R1) 1.0067.

Overcoming of 0.9952 would aline 38.2% retracement of 0.9541 to 1.0094 at 0.9883. Break of 1.0094 will target key resistance 1.0342. Hitting of support 0.9848 will indicate trend reversal.

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.