Daily Pivots: (S1) 0.8092; (P) 0.8163; (R1) 0.8206; More…
Intraday bias in USD/CHF stays neutral for consolidations above 0.8098. While stronger recovery might be seen, upside should be limited by 55 4H EMA (now at 0.8313) to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. Nevertheless, sustained break of 55 4H EMA will confirm short term bottoming, and turn bias back to the upside for stronger rebound.
In the bigger picture, the break of 0.8332 (2023 low) confirms resumption of long term down trend from 1.0342 (2017 high). Next target is 61.8% projection of 1.0146 (2022 high) to 0.8332 from 0.9196 at 0.8075. Firm break there will target 100% projection at 0.7382. In any case, outlook will now stay bearish as long as 55 W EMA (now at 0.8821) holds.
 to bring another fall. On the downside, break of 0.8098 will resume recent down trend to 200% projection of 0.9196 to 0.8757 from 0.8854 at 0.7976 next. Nevertheless, sustained break of 55 4H EMA will confirm short term bottoming, and turn bias back to the upside for stronger rebound.){kind=link}