Currency pair USD / CHF consolidates below the maximum reached 0.9741. Point intraday reversals analysts define levels (S1) 0,9627; (P) 0,9684; (R1) 0,9718. The nature of the current trading remains neutral. According to experts, the continuation of falling of pair USD / CHF is not excluded.
But its depth is limited by 0.9359 support. However, it is unlikely that the Swiss franc will quickly strengthen to this mark. "In the case of testing the maximum projected resumption of active growth of the pair USD / CHF up to 0.9838 resistance zone achievements / 9971," - noted analysts of TraderGlobal (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
Volatility of stock USD / CHF is seen as a medium-term correction of the previously achieved maximum 0.9971, which ends in three waves at around 0.8698. Recovery here directs the pair USD / CHF back to the maximum 0.9971, where images of the vertices of the first wave of upward movement. Confident overcoming this resistance level will lead to a shift in the range of price fluctuations USD / CHF from 0,7565-0,9971 to 0,8698-1,0494. Prevent such a scenario would only certainty passage below support level 0.9353. Until then, the medium term outlook remains bullish.
Technical analysis
USD / CHF continued to retreat under 0.9650. Frank is rising against the dollar for a second day, retreating from yearly highs. Recently USD / CHF hit 0.9624 new daily low of 0.9635 after the break. The pair remains near the lows, keeping bearish tone in the near future against the background of general decline of the dollar. USD / CHF losing ground won at the ECB.
On Thursday, the pair rose after Draghi's press conference on Friday and peaked at 0.9740; but since then it has fallen more than 100 points and retreated to levels seen prior to the ECB. Also, the pair managed to return all positions won in November, and descend to the level of the end of October.
Upward movement of USD / CHF as seen on a daily and a weekly chart of the pair. Nevertheless Monthly chart shows that the pair USD / CHF is a long time in a sideways trend, although the range is wide enough. "Now the USD / CHF rate is closer to the highs of recent years, which somewhat limits the appetite of traders to commit long-shopping," - said the expert of the Forex Broker Company TraderGlobal.
