Daily Pivots: (S1) 0.9933; (P) 0.9952; (R1) 0.9964; More…
USD/CHF is losing some upside momentum as seen in 4 hour MACD. But with 0.9907 minor support intact, further rise is still expected to 1.0027 resistance first. Firm break there will resume whole rally from 0.9659. Next target is 78.6% retracement of 1.0237 to 0.9659 at 1.0113. On the downside, break of 0.9907 minor support will turn bias back to the downside for 0.9841 support instead.
In the bigger picture, corrective fall from 1.0237 should have completed at 0.9659 already, ahead of 61.8% retracement of 0.9186 to 1.0237 at 0.9587. But decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, medium term outlook will stay neutral first. Meanwhile, break of 0.9695 support will extend the correction to 0.9541 support instead.
