USD/CHF reversed after failing to break through 0.7906 resistance, but stays above 0.7807. Intraday bias remains neutral first. On the downside, firm break of 0.7807 will suggest that fall from 0.8041 is ready to resume through 0.7760. Nevertheless, decisive break of 0.7906/23 will indicate that fall from 0.8041 has already completed as a correction.
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.
