EUR/CHF - Digesting its Recent Sharp Rise
USD/CHF is consolidating below the key resistance area defined by 0.9818 and 0.9839. Hourly supports stand at 0.9759 (intraday low) and 0.9722.
From a longer term perspective, the technical structure favours a full retracement of the large corrective phase that started in July 2012. As a result, a test of the major resistance area between 0.9972 (24/07/2012 high) and 1.0067 (01/12/2010 high) is expected. A key support can be found at 0.9531 (19/11/2014 low).