USD/CHF’s rally is resuming by breaching 0.8139 resistance. Intraday bias is back on the upside. Current rise from 0.7760 should target 100% projection 0.7603 to 0.8041 from 0.7600 at 0.8198 next. For now, outlook will remain bullish as long as 0.8029 support holds, in case of retreat.
In the bigger picture, while a medium term bottom was formed at 0.7603, it’s still early to call for bullish trend reversal. As long as 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213 holds, the larger down trend could still continue through 0.7603 at a later stage. However, firm break of 0.7603 will argue that the trend has reversed and turn focus to 0.8332 support turned resistance (2023 low) for confirmation.
