Daily Pivots: (S1) 0.9914; (P) 0.9940; (R1) 0.9956; More…
Intraday bias in USD/CHF remains mildly on the downside for the moment. Consolidation from 1.0027 is in progress with fall from 0.9978 as another leg. Deeper decline would be seen to 0.9851 support and possibly below. On the upside, break of 0.9978 will target 1.0027 first.
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.
