Intraday bias in USD/CHF is turned neutral again with current recovery. Risk is mildly on the downside as long as 0.7898 resistance holds. Break of 0.7760 will confirm resumption of the whole fall from 0.8041, and target 61.8% projection of 0.8041 to 0.7774 from 0.7898 at 0.7733.
In the bigger picture, as long as 55 W EMA (now at 0.8028) 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.
