Range Trading In USD/CHF
Trading is neutral, as the pair is staying above temporary low 0.9908. Upside is limited below minor resistance 1.0006. Pivot points are at: (S1) 0.9905; (P) 0.9956; (R1) 0.9986.
Trading above minor resistance 1.0006 will indicate completion of the pull back from 1.0128 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 renew the fall from 1.0128 to key support 0.9848 level. Break there will indicate a near term trend reversal and aline 61.8% at 0.9765
The growth from 0.9541 could have topped at 1.0128. Still, while support 0.9541 keeps, the rise from 0.9186 is expected to resume at a later stage. Hitting of 1.0128 will aline key resistance 1.0342. Break of 0.9514 will pave the way back to low 0.9186.