Daily Pivots: (S1) 0.7839; (P) 0.7856; (R1) 0.7884; More….
Intraday bias in USD/CHF remains on the upside at this point. Rebound from 0.7760 would continue to 0.7923 resistance. Firm break there will argue that fall from 0.8041 has completed as a three wave correction, and bring further rise to retest this high. On the downside, below 0.7837 minor support will turn intraday bias neutral first.
In the bigger picture, as long as 55 W EMA (now at 0.8035) holds, fall from 0.9200 is expected to continue, as part of the larger down trend. Firm break of 0.7603 will target 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382.
