Intraday bias in USD/CHF is turned neutral first with current retreat, and some consolidations would be seen. However, further rally is expected as long as 0.8182 support holds. On the upside firm break of 100% projection of 0.7760 to 0.8205 from 0.7948 at 0.8393 will target 138.2% projection at 0.8563.
In the bigger picture, rise from 0.7603 should at least be reversing the medium term trend. Focus is now on 0.8332 support turned resistance (2023 low) for confirmation. Firm break there will target 61.8% retracement of 0.9200 (2025 high) to 0.7603 at 0.8590. For now, this will remain the favored case as long as 0.7948 support holds.
