Daily Pivots: (S1) 0.9861; (P) 0.9878; (R1) 0.9888; More…
USD/CHF’s recovery is limited below 0.9926 minor resistance and intraday bias remains neutral for the moment. We’d continue to look for strong support from 0.9841 to contain downside and bring rebound. On the upside, above 0.9926 minor resistance will turn bias back to the upside for retesting 1.0023/27 resistance zone. However, sustained break of 0.9841 will indicate near term reversal and pave the way back to 0.9659 support.
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.
