Daily Pivots: (S1) 0.9193; (P) 0.9244; (R1) 0.9275; More….
USD/CHF’s correction from 0.9374 extends with another fall through 0.9233. Intraday bias is now on the downside for 38.2% retracement of 0.8869 to 0.9374 at 0.9181. But overall will stay bullish as long as 0.9044 resistance turned support holds. On the upside, above 0.9295 minor resistance will turn bias to the upside for retesting 0.9374 high.
In the bigger picture, current development argues that fall from 1.0237 has completed at 0.8756, on bullish condition in daily and weekly MACD. Current rally from 0.8756 should target 0.9901 resistance first. Break there will target 1.0237/0342 resistance zone in the medium term. This will now remain the favored case as long as 0.9044 resistance turned support holds.
