Daily Pivots: (S1) 0.9871; (P) 0.9895; (R1) 0.9924; More…
USD/CHF is bounded in range trading and intraday bias remains neutral first. With 0.9841 support intact, rise from 0.9659 is expected to resume sooner or later. On the upside, above 0.9926 minor resistance will bring retest of 1.0027 resistance first. 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.
