Daily Pivots: (S1) 1.0059; (P) 1.0077; (R1) 1.0110; More….
USD/CHF’s rise resumed after brief retreat and intraday bias is back on the upside. Current rise from 0.9716 is in progress for 1.0128 resistance. Decisive break there will confirm resumption of up trend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. On the downside, below 1.0043 minor support will turn intraday bias neutral and bring consolidation again.
In the bigger picture, USD/CHF drew strong support from medium term trend line and rebounded. That suggests rise from 0.9186 is still in progress. Further break of 1.0128 will confirm up trend resumption and target 1.0342 key resistance. Nevertheless, break of 0.9716 will dampen this bullish view and at least bring deeper fall to 0.9541 key support.
