Daily Pivots: (S1) 0.9978; (P) 0.9998; (R1) 1.0011; More….

USD/CHF’s fall from 1.0124 is still in progress and intraday bias remains on the downside for 0.9962 support. Decisive break there will be an early sign of medium term reversal and should target 0.9716 key support. On the upside, above 1.0020 minor resistance will turn bias back to the upside for retesting 1.0124 high.

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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 0.9926 support will be the first signal of medium term reversal and bring another test on the trend line.

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