Intraday bias in USD/CHF is turned neutral with current recovery. But risk remains on the downside with 0.7906 resistance intact. Below 0.7807 will target 0.7760 first. Firm break there will resume the fall from 0.8041, and target 61.8% projection of 0.8041 to 0.7774 from 0.7906 at 0.7741.
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.
