Daily Pivots: (S1) 0.9888; (P) 0.9950; (R1) 0.9987; More…
USD/CHF’s fall fro 1.0067 is still in progress and intraday bias stays mildly on the downside for 0.9856 support first. Break there will pave the way to key support level at 0.9787. On the upside, above 0.9957 minor resistance will turn bias back to the upside for retesting 1.0067.
In the bigger picture, as long as 0.9787 support holds, we’re still favoring the bullish case. That is, rise fro 0.9787 is resuming the whole up trend from 0.9186 and should target 1.0342 key resistance on resumption. However, break of 0.9787 will indicate medium term reversal and turn outlook bearish.
