Daily Pivots: (S1) 0.9915; (P) 0.9935; (R1) 0.9958; More…
USD/CHF’s rebound from 0.9862 extends today. Break of near term falling trendline resistance put focus on 1.0008 resistance now. Break will indicate that pull back from 1.0128 has completed. Intraday bias would be turned back to the upside for retesting 1.0128 first. On the downside, in case of another fall, strong support should be seen from 0.9848 key support to bring rebound.
In the bigger picture, rise from 0.9541 could have topped at 1.0128. But as long as 0.9541 support holds, we’d still expect rise from 0.9186 to resume at a later stage. Break of 1.0128 will target 1.0342 key resistance. However, break of 0.9514 will pave the way back to 0.9186 low.
