Daily Pivots: (S1) 0.9592; (P) 0.9638; (R1) 0.9674; More….
Intraday bias in USD/CHF remains on the downside as fall from 1.0037 is in progress for retesting 0.9420 low. On the upside, above 0.9684 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.9844 resistance holds.
In the bigger picture, range trading continues between 0.9420/1.0342. At this point, 0.9420 appears to be a strong support level. Therefore, in case of decline attempt, we don’t expect a firm break of this level. Nonetheless, strong break of 1.0342 is also needed to confirm upside momentum. Otherwise, medium term outlook will stay neutral.