Daily Pivots: (S1) 0.7976; (P) 0.8040; (R1) 0.8080; More….
No change in USD/CHF’s outlook and intraday bias stays mildly on the downside. Corrective rebound from 0.7871 might have completed with three waves up to 0.8170 already. Deeper fall should be seen back to retest 0.7871 low. Meanwhile, risk will stay on the downside as long as 0.8103 resistance holds, in case of recovery.
In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.
