Daily Pivots: (S1) 0.9989; (P) 1.0009; (R1) 1.0023; More….

USD/CHF’s rise from 0.9716 resumed quickly after brief consolidation. Intraday bias is back on the upside for 1.0128 key resistance. Decisive break there will resume larger up trend from 0.9186. On the upside, below 0.9988 minor support will turn intraday bias neutral again. But any retreat should be contained by 0.9908 support to bring rise resumption.

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In the bigger picture, USD/CHF drew strong support from medium term trend line and rebounded. That suggests rise from 0.9186 is still in progress. Further break of 1.0128 will confirm up trend resumption and target 1.0342 key resistance. Nevertheless, break of 0.9716 will dampen this bullish view and at least bring deeper fall to 0.9541 key support.

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