Daily Pivots: (S1) 0.9173; (P) 0.9189; (R1) 0.9215; More….
Intraday bias in USD/CHF is back on the upside with break of 0.9241 resistance. Focus is now on 0.9273, and firm break there will resume whole rise from 0.8925 for 0.9471 key resistance next. On the downside, however, break of 0.9162 support will turn bias neutral and mix up the near term outlook again.
In the bigger picture, USD/CHF is still struggling around 55 week EMA (now at 0.9178) and outlook is mixed for now. Confirmed rejection by the 55 week EMA will retain medium term bearishness. That is, larger fall from 1.0342 would resume through 0.8756 low at a later stage. However, sustained trading above 55 week EMA will tilt favor to the case of bullish reversal. Focus would then be turned to 0.9471 resistance for confirmation.
