Daily Pivots: (S1) 0.9823; (P) 0.9853; (R1) 0.9872; More…
Focus is now on 0.9841 support in USD/CHF. Sustained break there will indicate near term reversal, that is, rebound from 0.9659 has completed. Outlook will be turned bearish for retesting 0.9659 support. On the upside, above 0.9917 minor resistance will turn bias back to the upside for retesting 1.0027 resistance instead.
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.
