USD/CHF: Trend Reversal Is Not Excluded
Trading is neutral, as the pair failed to break through minor resistance 1.0006. Trading above minor resistance 1.0006 will indicate completion of the pull back from 1.0128 and back to the upside for retesting high 1.0128. Pivot points are at: (S1) 0.9963; (P) 0.9981; (R1) 0.9997.
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.