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USDCHF Outlook

USD/CHF Daily Outlook

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Daily Pivots: (S1) 0.9818; (P) 0.9844; (R1) 0.9869; More....

USD/CHF recovery from 0.9776 is in progress but kept well below 0.9946 resistance. Intraday bias remains neutral at this point. Also, with 0.9946 intact, fall from 1.0037 is still expected to extend to 61.8% retracement of 0.9420 to 1.0037 at 0.9656. We'll look for bottoming again below 0.9656 and above 0.9420. On the upside, break of 0.9946 resistance will indicate that the decline from 1.0037 has completed and bring retest of this resistance.

In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don't expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.

USD/CHF 4 Hours Chart

USD/CHF Daily Chart