Daily Pivots: (S1) 1.0000; (P) 1.0027; (R1) 1.0068; More….

USD/CHF’s rally accelerates to as high as 1.0092 so far today. Intraday bias stays on the upside for 1.0128 resistance. Decisive break there will confirm resumption of up trend from 0.9186. Next target will be 100% projection of 0.9541 to 1.0128 from 0.9716 at 1.0303. On the downside, below 1.0039 minor support will turn intraday bias neutral first and bring consolidations. But retreat should be contained well above 0.9908 support to bring another rally.

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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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