USD/CHF’s fall from 0.8394 resumed by breaking through 0.8190 support. Intraday bias is back on the downside for 38.2% retracement of 0.7603 to 0.8394 at 0.8092. For now, risk will stay on the downside as long as 0.8312 resistance holds, in case of recovery.
In the bigger picture, rise from 0.7603 should at least be reversing the medium term trend. Focus is 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.
