Daily Pivots: (S1) 0.7839; (P) 0.7856; (R1) 0.7884; More….
Intraday bias in USD/CHF is turned neutral first with current retreat. Some consolidations could be seen below 0.7876 temporary top. Risk will stay on the upside as long as 0.7760 support holds. Above 0.7876 will target 0.7923 first. 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.
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.
