Intraday bias in USD/CHF remains neutral and some more consolidations could be seen below 0.8205. Rise from 0.7603 should still be in progress, and firm break of 0.8205 will confirm resumption. Nevertheless, break of 0.7948 will dampen this bullish view.
In the bigger picture, focus is back on 38.2% retracement of 0.9200 (2025 high) to 0.7603 at 0.8213. Decisive break there will indicate that USD/CHF is at least reversing the medium term trend, and turn focus to 0.8332 support turned resistance (2023 low) for confirmation. Meanwhile, rejection by 0.8213 will suggest that rebound from 0.7603 is merely a corrective move, and the long term down trend is not complete yet.
