Daily Pivots: (S1) 1.0045; (P) 1.0072; (R1) 1.0112; More…
Intraday bias in USD/CHF remains on the upside for the moment, with focus on 1.0067 key resistance. Sustained break of 1.0067 will confirm resumption of larger rise from 0.9186 and should target 1.0342 key resistance next. However, break of 1.0007 minor support will be the first sign of near term topping. Intraday bias will be turned back to the downside for 0.9848/9954 support zone.
In the bigger picture, the pullback from 1.0067 has completed at 0.9541 already. And rise from 0.9186 is likely resuming. Firm break of 1.0067 will pave the way to retest 1.0342 key resistance. We’d be cautious on strong resistance from there to limit upside to bring another medium term fall to extend long term range trading.
