The experts suggested that on reaching the key level of 1.0000, USD/CHF would drop to 0.9800. Graphical analysis agreed elaborating that support could be 100 points higher and proved right – after going down, the pair never managed to drop below a 0.9880-0.9910 .
Forecast for Coming Week
Most experts (55%) stick with the view that USD/CHF should make it to support at 0.9800 after all. Then it should reverse upwards, break the defence line of 1.0000 and return to 1.0100-1.0200 within a month. Graphical analysis agrees with this overall, adjusting support 50 points up at 0.9850.
Roman Butko, NordFX