Daily Pivots: (S1) 0.9866; (P) 0.9887; (R1) 0.9904; More…
Consolidation from 1.0027 is still in progress and deeper fall could be seen to 0.9841/51 support zone. Sustained break there could back the way back to 0.9695 low. On the upside, break of 0.9978 will target 1.0027 first.
In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.
