Intraday bias in USD/CHF is turned neutral again with current retreat. Further rise is in favor as long as 0.7837 support holds. Firm break of 0.7923 resistance will argue that fall from 0.8041 has completed as a three wave correction, and bring further rise to retest this high. However, break of 0.7837 will turn bias back to the downside for 0.7760 support instead.
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.
