We do not expect a sharp correction of the franc after the warnings of the Switzerland Bank regarding its possible intervention in case of a sharp growth of the franc after the Brexit. In economic news, Swiss National Bank expects to achieve a positive inflation in 2018.
The market looks bearish. The instrument began Thursday with a drop. The pair was able to break the mark 0.9750 and set a new local low at 0.9724. However, the American traders returned the dollar above 0.9750. The resistance exists at 0.9800, the support lies at 0.9750.
MACD remained in the positive area, its histogram decreased. The indicator will give sell signals while its histogram decreases. RSI is in the neutral area; its fall from the overbought area is a sell signal. The moving averages formed a cross-over. They are moving horizontally.
We suppose the pair will go to the support level of 0.9750. We do not exclude the growth to 0.9850.