Daily Pivots: (S1) 0.9980; (P) 1.0002; (R1) 1.0023; More…
Intraday bias in USD/CHF remains on the upside with 0.9980 minor support intact. Firm break of 1.0027 resistance will confirm resumption of later rally from 0.9659. Further rise should then be seen to 61.8% projection of 0.9659 to 1.0027 from 0.9869 at 1.0095 next. On the downside, below 0.9980 minor support will delay the bullish case and turn intraday bias neutral 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.
