Short Term Topping In USD/CHF
Trading is on the downside for 38.2% retracement of 0.9541 to 1.0128 at 0.9904, as break of support 0.9952 suggests a short term topping at 1.0128. Pivot points are at: (S1) 0.9965; (P) 1.0026; (R1) 1.0062.
Overcoming of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will aline support 0.9848. Trading above minor resistance 1.0006 will indicate completion of the pull back and trading back to the upside for retesting high 1.0128.
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.