Daily Pivots: (S1) 1.0033; (P) 1.0045; (R1) 1.0062; More….

USD/CHF is losing some upside momentum as seen in 4 hour MACD. But with 0.9997 minor support intact, further rise is expected to 1.0098 resistance first. Break there will target 1.0128 key resistance next. On the downside, below 0.9997 minor support will turn bias back to the downside to extend the correction from 1.0098 instead.

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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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