Daily Pivots: (S1) 0.7931; (P) 0.7953; (R1) 0.7968; More….
Intraday bias in USD/CHF is back on the downside with break of 0.7914 support. Further fall should be seen to retest 0.7871 low. Decisive break there will resume larger down trend to 61.8% projection of 0.8475 to 0.7871 from 0.8170 at 0.7797. On the upside, above 0.7946 minor resistance will turn intraday bias neutral again.
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 0.8332 support turned resistance holds.
