USD/CHF moved in an unexpected manner. Instead of a rise, it broke through support at 0.9650 and fell by another 60 points, ending the week at 0.9587.
Summarizing the views of several dozen analysts from world leading banks and companies as well as forecasts based on different methods of technical and graphical analysis, the following can be suggested:
About 40% of the experts, together with the indicators, believe that USD/CHF hasn’t completed its fall yet and the bottom is last October’s lows around 1.9485. The remaining 60% of the analysts and graphical analysis on H4 are sure that it's time for the pair to go up – first to 0.9740 and then further to resistance at 0.9880. Support is 0.9570.
Roman Butko, NordFX