Daily Pivots: (S1) 0.9916; (P) 0.9947; (R1) 0.9964; More…
Intraday bias in USD/CHF is turned neutral with a temporary top formed at 0.9978. Further rise is expected as long as 0.9911 minor support holds. Consolidation from 1.0227 could have completed at 0.9851 already. Above 0.9978 will target 1.0027 high. Break will resume whole rally from 0.9659. On the downside, however, break of 0.9911 will turn bias back to the downside for 0.9851.
In the bigger picture, medium term outlook remains neutral as USD/CHF is staying in range of 0.9659/1.0237. In any case, decisive break of 1.0237 is needed to indicate up trend resumption. Otherwise, more sideway trading would be seen with risk of another fall. Meanwhile, break of 0.9695 support will target 0.9541 support instead.
