Daily Pivots: (S1) 0.9783; (P) 0.9834; (R1) 0.9891; More…
Intraday bias in USD/CHF is turned neutral with current retreat. Some consolidations could be seen first. On the upside, above 0.9884 will extend the rise from 0.9493 to t 1.0063 high. Decisive break there will resume larger up trend. On the downside, break of 0.9754 will turn bias back to the downside for 0.9493 support.
In the bigger picture, medium term up trend from 0.8756 (2021 low) is still in progress. Next target is 1.0342 (2016 high). Sustained break there will resume long term up trend from 0.7065 (2011 low). This will remain the favored case as long as 0.9471 resistance turned support holds.
