Daily Pivots: (S1) 0.9904; (P) 0.9919; (R1) 0.9948; More

IIntraday bias in USD/CHF remains neutral as consolidation from 1.0027 is extending. On the upside, break of 0.9978 resistance will turn bias back to the upside for 1.0027 resistance first. Break there will resume whole rise from 0.9659 low. For now, downside of any down leg should be contained above 0.9841 support. But firm break there would pave the wave back to retest 0.9659 low.

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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.


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