USD/CHF: Consolidation Extends

Technical Reports

Trading is neutral, as the pair is staying in consolidation above temporary low 0.9908. Still, deeper decline could be seen, considering minor support 1.0006. Pivot points are at: (S1) 0.9929; (P) 0.9943; (R1) 0.9943.

Trading above minor resistance 1.0006 will indicate completion of the pull back and trading back to the upside for retesting high 1.0128. Break of 38.2% retracement of 0.9541 to 1.0128 at 0.9904 will aline key support level 0.9848.

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.