USDCHF Outlook

Daily Pivots: (S1) 0.7881; (P) 0.7903; (R1) 0.7927; More….

Intraday bias in USD/CHF is back on the downside as fall from 0.8041 is resuming. Sustained break of 0.7877 cluster support (38.2% retracement of 0.7603 to 0.8041 at 0.7874) will argue that the rise from 0.7603 has completed, and bring deeper fall to 61.8% retracement at 0.7770 and below. Nevertheless, above 0.7925 minor resistance will turn intraday bias neutral again first.

In the bigger picture, rebound from 0.7603 medium term bottom is seen as correcting the fall from 0.9200 only. rejection by 55 W EMA (now at 0.8081) will affirm this case, and setup down trend resumption to 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382 at a later stage. Though, sustained break of 55 W EMA will suggest that it's probably correcting the larger scale down trend from 1.0146 (2022 high).

Daily Pivots: (S1) 0.7881; (P) 0.7903; (R1) 0.7927; More….

Intraday bias in USD/CHF remains neutral and outlook is unchanged. With 0.7877 cluster support (38.2% retracement of 0.7603 to 0.8041 at 0.7874) intact, rally from 0.7603 is expected to resume through 0.8041 later. However, decisive break of 0.7874/7 will argue that the rise has completed, and bring deeper fall to 61.8% retracement at 0.7770 and below.

In the bigger picture, rebound from 0.7603 medium term bottom is seen as correcting the fall from 0.9200 only. rejection by 55 W EMA (now at 0.8081) will affirm this case, and setup down trend resumption to 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382 at a later stage. Though, sustained break of 55 W EMA will suggest that it's probably correcting the larger scale down trend from 1.0146 (2022 high).

Daily Pivots: (S1) 0.7855; (P) 0.7927; (R1) 0.7985; More….

Intraday bias in USD/CHF stays neutral for the moment. With 0.7877 cluster support (38.2% retracement of 0.7603 to 0.8041 at 0.7874) intact, rally from 0.7603 is expected to resume through 0.8041 later. However, decisive break of 0.7874/7 will argue that the rise has completed, and bring deeper fall to 61.8% retracement at 0.7770 and below.

In the bigger picture, rebound from 0.7603 medium term bottom is seen as correcting the fall from 0.9200 only. rejection by 55 W EMA (now at 0.8081) will affirm this case, and setup down trend resumption to 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382 at a later stage. Though, sustained break of 55 W EMA will suggest that it's probably correcting the larger scale down trend from 1.0146 (2022 high).